By Wendy Van Sickle
Columbus, Ohio, March 31 – Morgan Stanley Finance LLC priced $10.34 million of contingent income autocallable securities due April 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index closes at or above the downside threshold price, 60% of the initial level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 12%.
The notes will be called at par of $10 plus the contingent coupon if the index closes at or above the initial level on any quarterly determination date.
If the final level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
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: | S&P 500 index
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Amount: | $10,342,000
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Maturity: | April 1, 2021
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Coupon: | 12% per year, payable quarterly if index closes at or above downside threshold level on determination date for that quarter
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Price: | Par
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Payout at maturity: | If final level is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final level is less than initial level
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Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly determination date
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Initial level: | 2,541.47
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Downside threshold: | 1,524.882, 60% of initial level
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Pricing date: | March 27
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Settlement date: | April 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61770FVQ6
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