New York, June 23 – Morgan Stanley priced $5,592,290 of contingent income autocallable securities due June 22, 2018 linked to United States Steel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If U.S. Steel stock closes at or above the downside threshold level of $16.198 on a quarterly determination date, the notes will pay a contingent payment of 17.65% for that quarter.
If U.S. Steel stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the U.S. Steel stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | United States Steel Corp. (NYSE: X)
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| Amount: | $5,592,290
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| Maturity: | June 22, 2018
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| Contingent payment: | 17.65% for quarter if U.S. Steel stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if U.S. Steel stock finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if U.S. Steel stock closes at or above initial share price on any determination date
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| Initial share price: | $23.14
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| Trigger level: | $16.198, 70% of initial price
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agents: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61765G440
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