By Sarah Lizee
Olympia, Wash., June 12 – Morgan Stanley Finance LLC priced $1.5 million of 7.25% worst-of fixed coupon RevCons due June 13, 2022 linked to the worst performing of the shares of Sherwin-Williams Co. and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock finishes at or above the 70% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Worst-of fixed coupon RevCons
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| Underlying stocks: | Sherwin-Williams Co. and American Express Co.
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| Amount: | $1.5 million
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| Maturity: | June 13, 2022
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| Coupon: | 7.25%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
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| Initial share prices: | $575.00 for Sherwin, $113.67 for American Express
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| Downside thresholds: | $402.50 for Sherwin, $79.569 for American Express; 70% of initial levels
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| Pricing date: | June 9
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| Settlement date: | June 12
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61771BMR2
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