By Susanna Moon
Chicago, April 2 – Morgan Stanley Finance LLC priced $5.34 million of contingent income autocallable securities due Sept. 20, 2018 linked to Take-Two Interactive Software, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.65% if the underlying stock closes at or above its 80% coupon barrier on the determination date that month.
The notes will be called at par if the stock closes at or above its initial level on any of the first five determination dates.
The payout at maturity will be par unless the stock finishes below its 80% 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 with distribution through Morgan Stanley Wealth Management.
| 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 asset: | Take-Two Interactive Software, Inc. (Symbol: TTWO)
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| Amount: | $5,338,000
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| Maturity: | Sept. 20, 2018
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| Coupon: | 13.65% annualized, payable monthly if stock closes at or above 80% coupon barrier on determination date for that month
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any of the first five determination dates
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| Initial level: | $107.29
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| Downside threshold: | $85.83, 80% of initial level
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 0.75%
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| Cusip: | 61768P330
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