By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Morgan Stanley Finance LLC priced $13.15 million of 0% contingent coupon buffered securities due June 4, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 7% if the index finishes at or above its coupon trigger level, 80% of its initial level, on each trading day before and during that month. If during any monthly observation period the index closes below its coupon trigger level, no coupon will be paid that month or any subsequent month.
If the index has never closed below the coupon trigger level during the life of the notes, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive par if the index closes at or above 88% buffer level and will lose 1% for every 1% index loss beyond 12%.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent coupon buffered securities
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| Underlying index: | Euro Stoxx 50
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| Amount: | $13.15 million
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| Maturity: | June 4, 2021
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| Coupon: | 7%, paid monthly, if index closes at or above 80% of initial level on each trading day before and during that month
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon if index has never closed below 80% trigger level during life of notes; otherwise, par if index closes at or above 88% buffer level, and 1% loss for every 1% index loss beyond 12%
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| Initial level: | 3,388.22
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| Buffer level: | 2,981.634, 88% of initial level
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61768CPM3
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