By Angela McDaniels
Tacoma, Wash., April 17 – Morgan Stanley Finance LLC priced $5 million of 12.996% fixed-rate buffered securities with downside factor and principal exposure due May 18, 2018 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par unless the final spread is less than the threshold level, 50% of the initial spread, in which case investors will lose 2% for every 1% that the decline exceeds 50%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-rate buffered securities
|
| Underlying: | Spread between 30-year and two-year U.S. dollar ICE swap rates
|
| Amount: | $5 million
|
| Maturity: | May 18, 2018
|
| Coupon: | 12.996% per year, payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par unless final spread is less than threshold level, in which case 2% loss for every 1% that decline exceeds 50%
|
| Initial spread: | 0.976 (equal to swap rate spread on April 11)
|
| Threshold level: | 0.488, or 50% of initial spread
|
| Pricing date: | April 12
|
| Settlement date: | April 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61766YBF7
|
© 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.
