By Angela McDaniels
Tacoma, Wash., Sept. 26 – Morgan Stanley Finance LLC priced $3.43 million of trigger autocallable contingent yield notes due Sept. 27, 2027 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.13% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning Sept. 24, 2018, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantors: | Morgan Stanley
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $3,432,000
|
| Maturity: | Sept. 27, 2027
|
| Coupon: | 7.13%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning Sept. 24, 2018, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
|
| Initial index levels: | 3,541.42 for Euro Stoxx 50 and 1,450.781 for Russell 2000
|
| Coupon barriers: | 2,478.99 for Euro Stoxx 50 and 1,015.547 for Russell 2000; 70% of initial levels
|
| Downside thresholds: | 1,770.71 for Euro Stoxx 50 and 725.391 for Russell 2000; 50% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 27
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768J318
|
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