By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Morgan Stanley Finance LLC priced $500,000 of 6.5% fixed-income autocallable securities due May 5, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus the most recent coupon if the index closes at or above its initial level on any quarterly determination date.
If the notes are not called and the index finishes at or above its initial level or has never closed below its 70% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed-income autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $500,000
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| Maturity: | May 5, 2020
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| Coupon: | 6.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if index finishes at or above its initial level or has never closed below downside threshold; otherwise, investors will lose 1% for each 1% decline
|
| Call: | Automatically at par plus coupon if index closes at or above its initial level on any quarterly determination date
|
| Initial level: | 2,704.1
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| Downside threshold: | 1,892.87; 70% of initial level
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
|
| Cusip: | 61768DWU5
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