By Sarah Lizee
Olympia, Wash., May 4 – Morgan Stanley Finance LLC priced $2.5 million of callable buffered range accrual securities due May 1, 2025 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will accrue at 6.1% for each day that the index closes at or above its 85% coupon barrier, payable monthly.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable buffered range accrual securities
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| Underlying index: | Russell 2000
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| Amount: | $2.5 million
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| Maturity: | May 1, 2025
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| Coupon: | 6.1% annualized, payable monthly for each day that index closes at or above its 80% coupon barrier
|
| Price: | Par
|
| Call option: | At par on any monthly redemption date beginning after one year
|
| Payout at maturity: | Par unless index falls by more than 15%, in which case 1% loss per 1% decline beyond 15%
|
| Initial level: | 1,281.878
|
| Coupon barrier: | 1,089.596, 85% of initial level
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61770FM60
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