New York, June 24 – Morgan Stanley priced $1,702,410 of contingent income auto-callable securities due June 26, 2017 linked to Williams Cos., Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Williams stock closes at or above the downside threshold level of $46.128 on a quarterly determination date, the notes will pay a contingent payment of 8.25% for that quarter.
If Williams 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 Williams 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 auto-callable securities
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Underlying index: | Williams Cos., Inc.
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Amount: | $1,702,410
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Maturity: | June 26, 2017
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Contingent payment: | 8.25% for quarter if Williams 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 Williams stock finishes at or above downside threshold; otherwise full exposure to any losses
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Call: | At par plus contingent payment if Williams stock closes at or above initial share price on any determination date
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Initial share price: | $57.66
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Trigger level: | $46.128, 80% of initial price
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Pricing date: | June 20
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Settlement date: | June 25
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Agents: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61761S547
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