By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Morgan Stanley Finance LLC priced $5.21 million of contingent income autocallable securities due Oct. 3, 2019 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF closes at or above the downside threshold level, 65% of the initial level, on a quarterly determination date, the notes will pay a contingent payment of 12.5% for that quarter.
If the ETF closes at or above its initial price on any of the first 11 determination dates, the notes will be redeemed at par plus the contingent payment.
If the ETF finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley
|
| Guarantor: | Morgan Stanley Finance LLC
|
| Issue: | Contingent income autocallable securities
|
| Underlying ETF: | Market Vectors Gold Miners
|
| Amount: | $5,205,000
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| Maturity: | Oct. 3, 2019
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| Contingent payment: | 12.5%, payable quarterly if ETF closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if ETF finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent payment if ETF closes at or above initial share price on any of the first 11 determination dates
|
| Initial share price: | $26.91
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| Downside threshold: | $17.492, 65% of initial price
|
| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61766F243
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