Morgan Stanley plans trigger phoenix autocallables linked to Teva

By Marisa Wong

Madison, Wis., April 18 - Morgan Stanley plans to price trigger phoenix autocallable optimization securities due April 26, 2017 linked to the American Depositary Shares of Teva Pharmaceutical Industries Ltd., according to an FWP filing with the Securities and Exchange Commission.

If the Teva ADS price closes at or above the 70% trigger level on a monthly observation date, the issuer will pay an annualized contingent coupon of 6.1% to 8.1% for that month. The exact rate will be set at pricing.

If the shares close at or above the initial price on a monthly observation date beginning April 22, 2013, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the final Teva ADS price is at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is the dealer.

The notes (Cusip: 61760T827) will price on April 20 and settle on April 25.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.