By Emma Trincal
New York, April 13 – Morgan Stanley Finance LLC priced $657,000 of 10% fixed-coupon autocallable securities due July 13, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If the stock closes at or above its initial price, on a monthly determination date after six months, the notes will be automatically called at par plus the coupon.
If the stock finishes at or above the 71% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the stock from its initial price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Fixed-coupon autocallable securities
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| Underlying stock: | Apple Inc.
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| Amount: | $657,000
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| Maturity: | July 13, 2021
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| Coupon: | 10%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the final level of the stock is below 71% of initial level in which case investors will be fully exposed to any losses
|
| Call: | Automatically at par if the stock closes at or above its redemption threshold level, 100% of initial level, on a monthly determination date after six months
|
| Initial share price: | $266.07
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| Downside threshold: | $188.910; 71% of initial levels
|
| Pricing date: | April 8
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| Settlement date: | April 13
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61770FK47
|
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