By Sarah Lizee
Olympia, Wash., July 8 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due Dec. 31, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its downside threshold level, 70% of its initial level, on the determination date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call date starting after six months.
The payout at maturity will be par unless either index closes below its downside threshold level during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $250,000
|
| Maturity: | Dec. 31, 2020
|
| Coupon: | 8% per year, payable monthly if each index closes at or above downside threshold on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below downside threshold level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly call date starting after six months
|
| Initial levels: | 1,566.572 for Russell 2000 and 2,941.76 for S&P 500
|
| Downside thresholds: | 1,096.6 for Russell 2000 and 2,059.232 for S&P 500, or 70% of initial levels
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61769HFZ3
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