By Susanna Moon
Chicago, March 2 – Morgan Stanley Finance LLC priced $2.68 million of contingent income autocallable securities due Feb. 12, 2020 linked to the least performing of the common stocks of Apple Inc. FedEx Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.3% if each stock closes at or above its 70% coupon barrier on the determination date that quarter.
The notes will be called at par if each stock closes at or above its initial level on any call review date after six months.
The payout at maturity will be par unless any stock finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
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 indexes: | Apple Inc. (Symbol: AAPL), FedEx Corp. (Symbol: FDX) and Goldman Sachs Group, Inc. (Symbol: GS)
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| Amount: | $2,675,000
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| Maturity: | Feb. 12, 2020
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| Coupon: | 15.3% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing stock
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| Call : | At par if each stock closes at or above its initial level on any quarterly call date beginning Aug. 10, 2018
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| Initial levels: | $159.54 for Apple, $251.15 for FedEx and $257.10 for Goldman
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| Downside thresholds: | $111.678 for Apple, $175.805 for FedEx and $179.97 for Goldman; 70% of initial levels
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 15
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 0.25%
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| Cusip: | 61768CC88
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