By Wendy Van Sickle
Columbus, Ohio, Oct. 24 – Morgan Stanley Finance LLC priced $18.11 million of 7.8% trigger callable yield notes due Jan. 24, 2024 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
The notes are callable at par on any monthly coupon payment date after three months.
The payout at maturity will be par of $10 unless the index finishes below its 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger callable yield notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $18,106,500
|
| Maturity: | Jan. 24, 2024
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| Coupon: | 7.8% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless the index finishes below downside threshold, in which case 1% loss for each 1% decline of the index from initial level
|
| Call option: | At par monthly on any coupon date after three months
|
| Initial level: | 1,725.756
|
| Downside threshold: | 862.878; 50% of initial level
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 24
|
| Underwriter: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 61774E790
|
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