By Susanna Moon
Chicago, June 27 – Morgan Stanley Finance LLC priced $4.35 million of contingent income autocallable securities due June 25, 2021 linked to Boeing Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if the stock closes at or above the 75% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date other than final date after six months.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| 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 stock: | Boeing Co. (Symbol: BA)
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| Amount: | $4,349,000
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| Maturity: | June 25, 2021
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| Coupon: | 8.6% annualized, payable each quarter if stock closes 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 stock finishes above downside threshold, par; otherwise, full exposure to decline
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date other than final date beginning Dec. 24, 2018
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| Initial share price: | $338.91
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| Downside threshold: | $254.183, 75% of initial level
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61768Q833
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