By Sarah Lizee
Olympia, Wash., Sept. 12 – Morgan Stanley Finance LLC priced $1.7 million of contingent income buffered autocallable securities due Sept. 2, 2021 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.
Each quarter, the notes will pay a contingent coupon at the rate of 4.3% per year if the underlier closes at or above its buffer level, 80% of its initial level, on the determination date for that quarter.
After six months, the notes will be automatically called at par if the underlier closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the underlier finishes below its buffer level, in which case investors will lose 1% for every 1% that the underlier declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlier: | S&P 500 index
|
| Amount: | $1.7 million
|
| Maturity: | Sept. 2, 2021
|
| Coupon: | 4.3% per year, payable quarterly if the underlier closes at or above buffer level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless the underlier finishes below buffer level, in which case 1% loss for every 1% that the underlier declines beyond 20%
|
| Call: | After six months, automatically at par if each underlier closes at or above initial level on any quarterly determination date
|
| Initial level: | 2,926.46
|
| Buffer level: | 2,341.168; 80% of initial level
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61769HQR9
|
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