By Jennifer Chiou
New York, Nov. 12 – Morgan Stanley priced $8,069,700 of contingent income autocallable securities due Nov. 13, 2015 linked to the ordinary shares of Weatherford International plc, according to a 424B2 filing with the Securities and Exchange Commission.
If Weatherford shares close at or above the downside threshold level, 75% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 14.25%.
The notes will be called at par of $10 plus the contingent coupon if Weatherford shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will receive a number of Weatherford shares equal to $10 divided by the initial share price or, at the issuer’s option, a cash amount equal to the value of those shares.
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: | Weatherford International plc (Symbol: WFT)
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Amount: | $8,069,700
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Maturity: | Nov. 13, 2015
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Contingent payment: | 14.25% annualized, payable if Weatherford 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 Weatherford stock finishes at or above downside threshold; otherwise full exposure to any losses
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Call: | At par plus contingent payment if Weatherford stock closes at or above initial share price on any determination date
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Initial share price: | $15.67
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Trigger level: | $11.753, 75% of initial price
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Pricing date: | Nov. 7
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Settlement date: | Nov. 13
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Agents: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61764C630
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