By Sarah Lizee
Olympia, Wash., March 12 – Morgan Stanley Finance LLC priced $1.35 million of contingent income autocallable securities due March 8, 2030 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
For the first year, the notes will pay a fixed quarterly coupon at the rate of 9.05% per year. After that, the notes will pay a contingent quarterly coupon at of 9.05% per year, plus any previously unpaid contingent coupons, if each index closes at or above its initial level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly redemption date after one year.
If the notes are not called, the payout at maturity will be par, unless any index closes below 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.
The notes are guaranteed by Morgan Stanley.
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 indexes: | Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $1.35 million
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| Maturity: | March 8, 2030
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| Coupon: | For the first year, notes will pay a fixed quarterly coupon at the rate of 9.05% per year; after that, the notes will pay a contingent quarterly coupon at of 9.05% per year, plus any previously unpaid contingent coupons, if each index closes at or above its initial level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case par plus return of least-performing index
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| Call: | Automatically at par if each index closes at or above initial level on any quarterly redemption date after one year
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| Initial levels: | 1,486.083 for Russell, 3,371.97 for Stoxx
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| Downside thresholds: | 743.042 for Russell, 1,685.985 for Stoxx, or 50% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.35%
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| Cusip: | 61770FRQ1
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