By Susanna Moon
Chicago, April 9 – Morgan Stanley Finance LLC priced $6.16 million of contingent income autocallable securities due April 1, 2021 linked to Blackstone Group LP stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if the underlying stock closes at or above its 70% coupon barrier on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any of the first 11 determination dates.
The payout at maturity will be par unless the stock finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying asset: | Blackstone Group LP (Symbol: BX)
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| Amount: | $6,157,400
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| Maturity: | April 1, 2021
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| Coupon: | 9.25% annualized, payable quarterly if stock closes at or above 70% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any of first 11 determination dates
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| Initial level: | $31.95
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| Downside threshold: | $22.365, 70% of initial level
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| Pricing date: | March 29
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| Settlement date: | April 4
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 2%
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| Cusip: | 61768P561
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