By Marisa Wong
Morgantown, W.Va., Dec. 21 – Morgan Stanley Finance LLC priced $3.07 million of contingent income autocallable securities due Dec. 20, 2022 linked to the Alerian MLP index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 11.35% if the index closes at or above its 75% coupon barrier on the determination date that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless the index finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying index: | Alerian MLP
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| Amount: | $3.07 million
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| Maturity: | Dec. 20, 2022
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| Coupon: | 11.35% per year, payable quarterly if index closes at or above coupon barrier on determination date that quarter
|
| Price: | Par
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| Payout at maturity: | If index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if index closes at or above initial level on any determination date after six months
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| Initial level: | 272.3834
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| Coupon barrier: | 204.2876, 75% of initial level
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| Downside threshold: | 204.2876, 75% of initial level
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768CWH6
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