By Sarah Lizee
Olympia, Wash., Oct. 23 – Morgan Stanley Finance LLC priced $503,000 of callable contingent income securities due Oct. 25, 2022 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Every six months, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the final coupon.
If any index finishes below its barrier level, investors will lose 1% for every 1% decline of the lesser performing index.
After six months, the notes will be callable at par on any coupon payment date.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $503,000
|
| Maturity: | Oct. 25, 2022
|
| Coupon: | 7.25% per year, payable every six months if each index closes at or above its coupon barrier level on the observation date that period
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above barrier level; if any index finishes below barrier level, 1% for every 1% decline of the lesser performing index
|
| Call option: | After six months, at par on any semiannual date
|
| Initial levels: | 1,535.482 for Russell, 3,579.41 for Stoxx
|
| Coupon barrier/final barriers: | 1,074.837 for Russell, 2,505.587 for Stoxx; 70% of initial levels
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61769HWW1
|
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