By Wendy Van Sickle
Columbus, Ohio, Dec. 11 – Morgan Stanley Finance LLC priced $1.21 million of 0% autocallable securities due June 4, 2019 linked to the West Texas Intermediate Light Sweet Crude Oil Futures Contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus 5.25% if the commodity price is at or above the initial price on Feb. 27, 2019.
If the notes are not called and each index finishes at or above its initial level or neither index has ever finished below its 70% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Autocallable securities
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| Underlying commodity: | West Texas Intermediate Light Sweet Crude Oil Futures Contracts
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| Amount: | $1,213,000
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| Maturity: | June 4, 2019
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 10.5% if commodity finishes at or above its initial level; if commodity falls by up to 30%, par; otherwise, investors will lose 1% for each 1% decline
|
| Call: | Automatically at par plus 5.25% if commodity price is at or above initial price on Feb. 27, 2019
|
| Initial price: | $50.93
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| Downside threshold: | $35.651; 70% of initial level
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
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| Cusip: | 61766YDL2
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