Chicago, Aug. 2 – Morgan Stanley Finance LLC priced $426,000 of contingent income autocallable securities due July 28, 2028 linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if the underlying index closes at or above its 75% coupon barrier on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting Oct. 30 at par if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the index closes below its 50% downside threshold level in which case investors will be fully exposed to the decline of the 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 index: | S&P U.S. Equity Momentum 40% VT 4% Decrement index
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| Amount: | $426,000
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| Maturity: | July 28, 2028
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| Coupon: | 13.5% annual rate, paid monthly, if the underlying index closes at or above its 75% coupon barrier on the related monthly observation date; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par unless the index closes below its downside threshold level in which case investors will be fully exposed to the decline in the index
|
| Call: | Automatically starting Oct. 30 at par if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial level: | 906.86
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| Coupon barrier: | 680.145, 75% of initial level
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| Downside threshold: | 453.43, 50% of initial level
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| Pricing date: | July 25
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| Settlement date: | July 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61775HMS3
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