By Wendy Van Sickle
Columbus, Ohio, July 30 – Morgan Stanley Finance LLC priced $14.38 million of contingent income autocallable securities due July 26, 2019 linked to the West Texas Intermediate Light Sweet Crude Oil Futures Contracts, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.2% if the commodity closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the commodity closes at or above its initial level on any determination date.
The payout at maturity will be par unless the commodity finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying asset: | West Texas Intermediate Light Sweet Crude Oil Futures Contracts
|
| Amount: | $14,379,000
|
| Maturity: | July 26, 2019
|
| Coupon: | 9.2% annualized, payable quarterly if commodity closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If commodity finishes at or above 70% downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if commodity closes at or above its initial level on any determination date
|
| Initial level: | $67.89
|
| Downside threshold: | $47.523, 70% of initial level
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| Pricing date: | July 23
|
| Settlement date: | July 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61766YDD0
|
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