By Kiku Steinfeld
Chicago, Nov. 9 – Morgan Stanley Finance LLC priced $1.1 million of contingent income autocallable securities due March 15, 2023 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 10 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par if the indexes never close below the 60% downside threshold level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $1.1 million
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| Maturity: | March 15, 2023
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| Coupon: | 10.5%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting June 10 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 2,011.673 for Russell, 4,259.52 for S&P
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| Downside thresholds: | 1,207.004 for Russell, 2,555.712 for S&P, 60% of initial level
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.375%
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| Cusip: | 61773QPA1
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