New York, July 27 – Morgan Stanley Finance LLC priced $1.27 million of contingent income buffered autocallable securities due July 25, 2025 linked to the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlying fund closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each fund closes at or above its initial level on any monthly call determination date starting July 27, 2023.
At maturity, the payout will be par unless the laggard fund declines by more than 25%, in which case investors will be exposed to the decline of the fund beyond 25%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying ETF: | iShares Silver Trust and VanEck Vectors Gold Miners ETF
|
| Amount: | $1,266,000
|
| Maturity: | July 25, 2025
|
| Coupon: | 9%, paid monthly, if each underlying fund closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the laggard fund declines no more than 25%; otherwise, investors will lose 1% for every 1% decline of the laggard fund below 25%
|
| Call: | Automatically at par if each fund closes at or above its initial level on any monthly call determination date starting July 27, 2023
|
| Initial levels: | $17.14 for iShares, $25.41 for VanEck
|
| Buffer: | 25%
|
| Coupon barrier: | $12.855 for iShares, $19.058 for VanEck; 75% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.2%
|
|
|
| Cusip: | 61774DXR3
|
|
|
|
|
© 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.
