By Sarah Lizee
Olympia, Wash., June 9 – Morgan Stanley Finance LLC priced $1 million of 9.5% worst-of fixed coupon RevCons due June 3, 2022 linked to the worst performing of the shares of Exxon Mobil Corp. and Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock finishes at or above the 60% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Worst-of fixed coupon RevCons
|
| Underlying stocks: | Exxon Mobil Corp. and Chevron Corp.
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| Amount: | $1 million
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| Maturity: | June 3, 2022
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| Coupon: | 9.5%, payable monthly
|
| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
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| Initial share prices: | $45.04 for Exxon, $90.87 for Chevron
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| Downside thresholds: | $27.024 for Exxon, $54.522 for Chevron; 60% of initial levels
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| Pricing date: | June 1
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| Settlement date: | June 4
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61771BLE2
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