By Angela McDaniels
Tacoma, Wash., Jan. 11 - Morgan Stanley priced $3 million of market-linked autocallable notes due Jan. 14, 2028 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon each month at the rate of 6.5% per year if each index closes at or above its barrier level on the observation date for that month. Otherwise, no coupon will be paid that month. The barrier levels are 75% of the indexes' initial levels.
Beginning Jan. 14, 2018, the notes will be automatically called at par plus the contingent monthly coupon if both indexes close at or above their initial levels on any quarterly redemption determination date.
If the notes are not called, the payout at maturity will be par plus the final contingent monthly coupon, if any.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Market-linked autocallable notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $3 million
|
| Maturity: | Jan. 14, 2028
|
| Coupon: | 6.5% per year, payable monthly only if both indexes close at or above their barrier levels on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent monthly coupon, if any
|
| Call: | Automatically at par plus contingent monthly coupon if both indexes close at or above their initial levels on any quarterly redemption determination date from Jan. 14, 2018 onward
|
| Initial index levels: | 879.51 for Russell 2000 and 2,706.39 for Euro Stoxx 50
|
| Barrier levels: | 659.6325 for Russell 2000 and 2,029.7925 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61761JBJ7
|
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