By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Morgan Stanley Finance LLC priced $7.31 million of contingent income autocallable securities due Feb. 5, 2021 linked to United Continental Holdings Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a quarterly contingent coupon at an annual rate of 10.25% if the stock closes at or above the 75% downside threshold on the review date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | United Continental Holdings Inc.
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| Amount: | $7,310,700
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| Maturity: | Feb. 5, 2021
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| Coupon: | 10.25% per year, payable quarterly if stock closes at or above barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above barrier, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above initial level on any determination date other than final date
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| Initial level: | $65.68
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| Downside threshold: | $49.26, 75% of initial level
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61768M485
|
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