By Wendy Van Sickle
Columbus, Ohio, June 29 – Morgan Stanley Finance LLC priced $1.83 million of contingent income autocallable securities due July 1, 2020 linked to the least performing of the common stocks of Walt Disney Co., Coca-Cola Co., Nike, Inc. and Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annualized rate of 9.3% if each stock closes at or above the downside threshold level, 65% of the initial share price, on a monthly determination date.
Beginning on Dec. 29, the notes will be called at par of $1,000 plus the contingent coupon each stock closes at or above the initial share price on an observation date.
If the final share price of each stock is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon.
Otherwise, investors will lose 1% for every 1% that the final share price of the lowest performing stock is less than the initial share price.
Morgan Stanley & Co. LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
| 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 stocks: | Walt Disney Co., Coca-Cola Co., Nike, Inc., Pfizer Inc.
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| Amount: | $1,825,000
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| Maturity: | July 1, 2020
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| Coupon: | 9.3% annualized, payable each month that each stock closes at or above downside threshold on determination date for that month
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| Price: | Par
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| Payout at maturity: | If each stock finishes above downside threshold, par; otherwise, full exposure to losses of worst performing stock
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| Call: | At par if each fund closes at or above initial share price on any determination date after six months
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| Initial levels: | $53.28 for Nike, $105.57 for Disney, $34.04 for Pfizer, $45.43 for Coca-Cola
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| Downside thresholds: | $34.632 for Nike, $68.21 for Disney, $22.126 for Pfizer, $29.53 for Coca-Cola
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| ; 65% of initial levels
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| Pricing date: | June 26
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| Settlement date: | June 29
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 3.5%
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| Cusip: | 61768CLQ8
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