By Wendy Van Sickle
Columbus, Ohio, July 26 – Morgan Stanley Finance LLC priced $800,000 of contingent income autocallable securities due July 28, 2022 linked to the worst performing of the common stocks of Facebook, Inc., Qualcomm Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 18.05% if each stock closes at or above its downside threshold, 65% of its initial level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes above its initial level on any quarterly review date.
The payout at maturity will be par plus the final contingent coupon unless any stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.
| 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 stocks: | Facebook, Inc., Qualcomm Inc. and JPMorgan Chase & Co.
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| Amount: | $800,000
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| Maturity: | July 28, 2022
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| Coupon: | 18.05% per year, payable quarterly if each stock close at or above downside threshold level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price of least performing stock is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price of least performing stock is less than initial share price
|
| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date
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| Initial share price: | $202.36 for Facebook, $74.12 for Qualcomm, $116.36 for JPMorgan
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| Downside threshold: | $131.534 for Facebook, $48.178 for Qualcomm, $75.634 for JPMorgan; 65% of initial level
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| Pricing date: | July 23
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| Settlement date: | July 26
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 61769Q436
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