New Issue: Morgan Stanley sells $250,000 contingent income autocalls on indexes

By Kiku Steinfeld

Chicago, June 15 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due June 9, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the determination date for that quarter.

The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date after six months.

The payout at maturity will be par plus any coupon due unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying indexes:	Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
Amount:	$250,000
Maturity:	June 9, 2025
Coupon:	10% per year, payable quarterly if each index closes at or above barrier level on determination date for that quarter
Price:	Par
Payout at maturity:	Par plus any coupon due unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
Call:	Automatically at par if each index closes at or above its initial level on any quarterly determination date after six months
Initial levels:	9,629.664 for Nasdaq, 1,452.063 for Russell, 26,281.82 for Dow
Coupon barriers:	7,222.248 for Nasdaq, 1,089.047 for Russell, 19,711.365 for Dow; 75% of initial levels
Downside threshold levels:	6,740.765 for Nasdaq 1,016.444 for Russell, 18,397.274 for Dow; 70% of initial levels
Pricing date:	June 4
Settlement date:	June 9
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61771BHP2

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