By Kiku Steinfeld
Chicago, Dec. 14 – Morgan Stanley Finance LLC priced $1.87 million of 7% fixed-income securities due March 3, 2022 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and ever finishes below its 72.5% downside threshold, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Otherwise, investors will lose 1% for each 1% decline of the least performing index from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-income securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,868,000
|
| Maturity: | March 3, 2022
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below its initial level and ever finishes below its downside threshold, in which case 1% loss for each 1% decline of worse-performing index from its initial level
|
| Initial levels: | 3,621.63 for S&P and 1,819.816 for Russell
|
| Downside threshold levels: | 2,625.682 for S&P and 1,319.367 for Russell; 72.5% of initial levels
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61771EKY3
|
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