By William Gullotti
Buffalo, N.Y., July 30 – Morgan Stanley Finance LLC priced $1 million of 3.25% fixed income autocallable securities due June 10, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if the index closes at or above its initial level on any quarterly determination date after six months.
If the final level of the index is greater than or equal to 60% of its initial level, the payout at maturity will be par plus the last fixed coupon. Otherwise, investors will lose 1% for every 1% that the index declined from its initial level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Fixed income autocallable securities
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Underlying index: | S&P 500 index
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Amount: | $1,000,000
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Maturity: | June 10, 2024
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Coupon: | 3.25%, payable quarterly
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Price: | Par
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Payout at maturity: | If final level of the index is greater than or equal to 60% of initial level, par plus last fixed coupon; otherwise, 1% loss for every 1% decline from initial level
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Call: | At par plus coupon if the index closes at or above its initial level on any quarterly determination date after six months
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Initial index level: | 4,192.85
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Coupon barrier level: | 2,515.71; 60% of initial levels
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Pricing date: | June 3
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Settlement date: | June 8
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.92%
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Cusip: | 61771V2L3
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