By Marisa Wong
Morgantown, W.Va., March 13 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due March 4, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the index closes at or above 80% of its initial level on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 80% downside threshold, in which case investors will be fully exposed to the index decline.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying index: | S&P 500
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| Amount: | $1 million
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| Maturity: | March 4, 2020
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| Coupon: | 7.5% per year, payable each quarter that index closes at or above downside threshold on related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the index finishes below the downside threshold, in which case full exposure to losses
|
| Call: | Automatically at par plus the contingent coupon if the index closes at or above its initial level on any quarterly determination date
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| Initial level: | 2,784.49
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| Downside threshold: | 2,227.592, 80% of initial level
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61768DL94
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