By Marisa Wong
Morgantown, W.Va., Feb. 12 – Morgan Stanley Finance LLC priced $560,000 of market-linked notes due Aug. 3, 2022 with past performance adjusted contingent coupon linked to the Morgan Stanley ETF-MAP 2 index, according to a 424B2 filing the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Any contingent coupon will be calculated using the index closing value on the annual determination dates. The notes will pay a contingent coupon if the index value on a determination date is greater than the initial value and, after the first determination date, also greater than the index value on each previous determination date.
For each determination date, the contingent coupon rate will equal the index percentage change minus the sum of the contingent coupon rates, if any, for each of the previous determination dates, subject to a floor of zero. The index percentage change is measured relative to the initial index value.
The payout will be par plus any contingent coupon.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Market-linked notes with past performance adjusted contingent coupon
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| Underlying index: | Morgan Stanley ETF-MAP 2 index
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| Amount: | $560,000
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| Maturity: | Aug. 3, 2022
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| Coupon: | Index percentage change minus sum of contingent coupon rates, if any, for each of the previous determination dates, subject to a floor of zero; contingent coupon is payable if index value on an annual determination date is greater than initial value and also greater than the index value on each previous determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus any contingent coupon
|
| Initial level: | 1,161.92
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| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
|
| Cusip: | 61768M170
|
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