By Susanna Moon
Chicago, Jan. 25 – Morgan Stanley Finance LLC priced $8.54 million of contingent income autocallable securities due July 24, 2018 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 14.4% if the stock closes at or above its 75% downside threshold on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any of the first five determination dates.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
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 stock: | Nvidia Corp. (Symbol: NVDA)
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| Amount: | $8,543,780
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| Maturity: | July 24, 2018
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| Coupon: | 14.4% annualized, payable monthly if stock closes at or above downside threshold on determination date for that month
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any of the first five determination dates
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| Initial level: | $230.11
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| Downside threshold: | $172.583, 75% of initial level
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 0.75%
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| Cusip: | 61768M360
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