By Wendy Van Sickle
Columbus, Ohio, June 22 – Morgan Stanley Finance LLC priced $4.2 million trigger autocallable contingent yield notes due June 23, 2027 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6% if each index closes at or above its 51.9% coupon barrier on the observation date for that quarter.
After one year, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its 51.9% downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the underwriters.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $4,200,300
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| Maturity: | June 23, 2027
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| Coupon: | 6%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date
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| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing index
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| Initial levels: | 1,406.728 for Russell, 3,543.88 for Stoxx
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| Barriers/thresholds: | 730.092 for Russell, 2,505.314 for Stoxx; 51.9% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Underwriters: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61766W832
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