By Sarah Lizee
Olympia, Wash., July 13 – Morgan Stanley Finance LLC priced $6.86 million of contingent income autocallable securities due July 8, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index closes at or above the coupon barrier, 80% of the initial level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9.92%.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly determination date after one year.
If the final level is greater than or equal to the downside threshold level, 70% of initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $6,855,000
|
| Maturity: | July 8, 2024
|
| Coupon: | 9.92% per year, payable quarterly if index closes at or above coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that final level is less than initial level
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly determination date after one year
|
| Initial level: | 1,431.86
|
| Coupon barrier: | 1,145.488, 80% of initial level
|
| Downside threshold: | 1,002.302, 70% of initial level
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| Pricing date: | July 2
|
| Settlement date: | July 8
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61771BQG2
|
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