By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Morgan Stanley Finance LLC priced $5.6 million of trigger autocallable contingent yield notes due Jan. 31, 2024 linked to the least 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 are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 10.01% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus any final coupon due unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
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 index and the Russell 2000 index
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Amount: | $5,599,000
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Maturity: | Jan. 31, 2024
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Coupon: | 10.01% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date
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Price: | Par of $10
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Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
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Payout at maturity: | Par plus any final coupon due unless either index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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Initial levels: | 3,536.38 for Stoxx and 2,108.696 for Russell
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Coupon barriers: | 2,475.47 for Stoxx and 1,476.087 for Russell; 70% of initial levels
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Downside thresholds: | 2,475.47 for Stoxx and 1,476.087 for Russell; 70% of initial levels
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Pricing date: | Jan. 27
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Settlement date: | Jan. 29
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Agent: | Morgan Stanley & Co. LLC with UBS Financial Services Inc. acting as dealer
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Fees: | 0%
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Cusip: | 61771J750
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