By Kiku Steinfeld
Chicago, July 6 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due Nov. 18, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 12% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly redemption date after six months.
The payout at maturity will be par unless either index finishes below its downside threshold level, 70% of its initial level, in which case investors will receive par plus the return of the least-performing index.
The notes are guaranteed by Morgan Stanley.
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 and S&P 500 index
|
| Amount: | $1 million
|
| Maturity: | Nov. 18, 2021
|
| Coupon: | 12% per year, payable monthly if each index closes at or above coupon barrier on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case par plus return of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly redemption date after six months
|
| Initial levels: | 1,256.992 for Russell, 2,863.70 for S&P
|
| Coupon barriers/downside thresholds: | 879.894 for Russell, 2,004.59 for S&P, or 70% of initial levels
|
| Pricing date: | May 15
|
| Settlement date: | May 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61771BCS1
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