By Susanna Moon
Chicago, Oct. 30 – Morgan Stanley Finance LLC priced $500,000 of 5.8% fixed income autocallable securities due Oct. 22, 2020 linked to the worse performing of the iShares MSCI Emerging Markets ETF and the Consumer Staples Select Sector SPDR Fund, according to a 424B2 filed with the Securities and Exchange Commission.
Interest is payable quarterly
The notes will be called at par if each underlying fund closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either underlying fund closes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worse performing fund.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed income autocallable securities
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| Underlying funds: | iShares MSCI Emerging Markets ETF and Consumer Staples Select Sector SPDR Fund
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| Amount: | $500,000
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| Maturity: | Oct. 22, 2020
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| Coupon: | 5.8%, payable quarterly
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| Call: | At par if each fund closes at or above its initial level on any quarterly call date after six months
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| Price: | Par
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| Payout at maturity: | If either fund closes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing fund
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| Initial levels: | $40.36 for EM fund and $53.54 for consumer fund
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| Downside thresholds: | $24.216 for EM fund and $32.124 for consumer fund, 60% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61768DHV0
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