By Susanna Moon
Chicago, Nov. 10 – Morgan Stanley Finance LLC priced $4.61 million of contingent income autocallable securities due May 8, 2019 linked to the worst performing of the common stocks of Wynn Resorts, Ltd. and the MGM Resorts International, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.25% if each stock closes at or above its 65% downside threshold on the determination date that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless either stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the worse performing stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.
| 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: | Wynn Resorts, Ltd. (Symbol: WYNN) and MGM Resorts International (Symbol: MGM)
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| Amount: | $4,614,600
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| Maturity: | May 8, 2019
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| Coupon: | 13.25% per year, payable quarterly if each stock closes at or above downside threshold on determination date that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing stock
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| Call: | At par if stock index closes at or above initial level on any quarterly call date other than final date
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| Initial levels: | $150.09 for Wynn and $31.26 for MGM
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| Downside thresholds: | $97.5585 for Wynn and $20.319 for MGM, 65% of initial levels
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 7
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 1.5%
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| Cusip: | 48129K506
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