By Susanna Moon
Chicago, May 25 – Morgan Stanley Finance LLC priced $3.3 million of contingent income autocallable securities due May 23, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.65% if the index closes at or above its 85% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless the index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses.
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: | Euro Stoxx 50 index
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Amount: | $3.3 million
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Maturity: | May 23, 2023
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Coupon: | 10.65% annualized, payable quarterly if index closes at or above 85% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If index finishes at or above 70% downside threshold, par; otherwise, 1% loss for each 1% decline
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Call: | At par if the index closes at or above its initial level on any quarterly call date beginning in May 2019
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Initial level: | 3,573.76
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Coupon barrier: | 3,037.696, 85% of initial level
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Downside threshold: | 2,501.632, 70% of initial level
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Pricing date: | May 18
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Settlement date: | May 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61768C2N6
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