By William Gullotti
Buffalo N.Y., May 5 – Morgan Stanley Finance LLC sold $600,000 of contingent income autocallable securities due April 22, 2024 tied to the performance of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Quarterly, the notes will pay a contingent coupon at the rate of 7.35% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if on any quarterly redemption determination date after one year the underlying stock closes above its initial level.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the performance of the common stock.
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 autocallable securities
|
| Underlying stock: | Facebook, Inc.
|
| Amount: | $600,000
|
| Maturity: | April 22, 2024
|
| Coupon: | 7.35% per year, payable quarterly if the underlying stock is at or above its coupon threshold level on the related determination date
|
| Price: | Par
|
| Call: | Autocallable at par plus the coupon if stock closes above initial level on any quarterly determination date after one year
|
| Payout at maturity: | Par unless final share price is less than its downside threshold, in which case investors will be fully exposed to the performance of the least performing index
|
| Initial share price: | $302.24
|
| Coupon barrier level: | $211.568; 70% of initial level
|
| Downside threshold level: | $211.568; 70% of initial level
|
| Pricing date: | April 19
|
| Settlement date: | April 21
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.85%
|
| Cusip: | 61771VVR8
|
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