By Taylor Fox
New York, Sept. 1 – Morgan Stanley Finance LLC priced $9.87 million of 8.75% fixed-income autocallable securities due June 1, 2022 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus the most recent coupon if each underlying index closes at or above its initial level on any quarterly determination date after six months.
If the notes are not called and each index finishes at or above its 75% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-income autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000
|
| Amount: | $9,865,000
|
| Maturity: | June 1, 2022
|
| Coupon: | 8.75%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes above its downside threshold; otherwise, investors will lose 1% for each 1% decline of the least-performing index
|
| Call: | Automatically at par plus coupon if each underlying closes at or above its initial level on any quarterly determination date after six months
|
| Initial levels: | 3,811.15 for S&P, 2,201.051 for Russell
|
| Downside thresholds: | 2,858.363 for S&P, 1,650.788 for Russell; 75% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61771E7M4
|
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