New York, May 20 – Morgan Stanley Finance LLC priced $3.06 million of callable contingent income securities due May 16, 2024 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid quarterly, if the underlying index closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called starting Aug. 18 at par on any quarterly call date.
At maturity, the payout will be par unless the underlying index finishes below its 65% downside threshold, in which case investors will be fully exposed to the decline of the index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying index: | S&P 500 index
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| Amount: | $3,064,000
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| Maturity: | May 16, 2024
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| Coupon: | 7.5%, paid quarterly, if the underlying index closes at or above its 65% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the underlying index
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| Call: | Starting Aug. 18 at par on any quarterly call date
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| Initial level: | 4,023.89
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| Downside threshold: | 2,615.529, 65% of initial level
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61774DBN6
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