New York, June 29 – Morgan Stanley Finance LLC priced $4.8 million of callable contingent income securities due June 21, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if the underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the underlying index finishes below its 70% 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: | $4,795,000
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Maturity: | June 21, 2024
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Coupon: | 8.5%, paid quarterly, if the underlying index closes at or above its 70% 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 Sept. 22 at par on any quarterly call date
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Initial level: | 3,674.84
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Downside threshold: | 2,572.388, 70% of initial level
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Pricing date: | June 17
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Settlement date: | June 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.5%
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Cusip: | 61774DPR2
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