By Wendy Van Sickle
Columbus, Ohio, July 1 – Morgan Stanley Finance LLC priced $3.43 million contingent income autocallable securities due June 28, 2019 linked to the worse performing of the common stocks of Nike, Inc. and Under Armour Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at a rate of 10.5% per year if each stock closes at or above its downside threshold level, 60% of its initial level, on the determination date for that month.
After three months, Morgan Stanley will call the notes at par of $1,000 plus any contingent coupon on any monthly determination date if the closing level of each stock is greater than or equal to its initial level.
If each stock finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon,
Otherwise, investors will be fully exposed to the decline of the worse performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Nike, Inc. and Under Armour, Inc.
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| Amount: | $3.43 million
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| Maturity: | June 28, 2019
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| Contingent payment: | 10.5% a year, payable monthly if each stock closes above downside threshold on observation date for that month
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above downside threshold; otherwise full exposure to loss of lesser-performing stock
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| Call: | At par plus contingent payment if each stock closes at or above initial share price on any determination date after three months
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| Initial share prices: | $51.89 for Nike and $35.92 for Under Armour
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| Trigger level: | $31.134 for Nike and $21.552 for Under Armour, 60% of initial prices
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agents: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61766BBD2
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