By William Gullotti
Buffalo, N.Y., June 9 – Morgan Stanley Finance LLC priced $3.44 million of contingent income autocallable securities due May 31, 2022 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at the rate of 8.05% per year if the index closes at or above its coupon barrier level, 80% of its initial level, on the observation date that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if the index closes at or above its initial level on any quarterly call determination date.
If the index finishes at or above its downside threshold level, 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the final index value.
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: | S&P 500 index
|
| Amount: | $3,435,000
|
| Maturity: | May 31, 2022
|
| Coupon: | 8.05% per year, payable quarterly if the index closes at or above coupon barrier level on observation date that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above downside threshold level, par; otherwise, full exposure to decline
|
| Call: | At par plus coupon if the index closes at or above its initial level on any quarterly call determination date
|
| Initial levels: | 4,063.04
|
| Coupon barrier levels: | 3,250.432; 80% of initial levels
|
| Downside threshold levels: | 3,250.432; 80% of initial levels
|
| Pricing date: | May 13
|
| Settlement date: | May 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61771VS50
|
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