By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – Morgan Stanley Finance LLC sold $11.66 million of callable contingent income securities due Aug. 21, 2031 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 5.9% per year if the index closes at or above its coupon threshold level, 80% of its initial level, on the related determination date.
The notes will be callable at par on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon unless the underlying index finishes below its 80% downside threshold, in which case investors will be fully exposed to the performance of the index.
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 contingent income securities
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| Underlying index: | S&P 500 index
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| Amount: | $11.66 million
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| Maturity: | Aug. 21, 2031
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| Coupon: | 5.9% per year, payable quarterly if underlying index closes at or above its coupon threshold level on the related determination date
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless underlying index finishes below its downside threshold, in which case investors will be fully exposed to the performance of the index
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| Call option: | At par on any quarterly observation date after six months
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| Initial level: | 4,479.71
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| Coupon threshold level: | 3,583.768; 80% of initial levels
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| Downside threshold level: | 3,583.768; 80% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.17%
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| Cusip: | 61773FPK3
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