By Wendy Van Sickle
Columbus, Ohio, July 8 – Morgan Stanley Finance LLC priced $1.2 million of contingent income autocallable securities due July 11, 2022 linked to Walt Disney Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.5% if the stock closes at or above the 55% coupon barrier on the determination date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its downside threshold, 55% of initial level, in which case investors will be fully exposure to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Walt Disney Co.
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| Amount: | $1,195,000
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| Maturity: | July 11, 2022
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| Coupon: | 13.5% annualized, payable quarterly if stock closes at or above coupon barrier level on determination date for that quarter, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | If final share price is at or above downside threshold, par; otherwise, lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any quarterly determination date
|
| Initial share price: | $113.01
|
| Coupon barrier: | $79.107, 70% of initial level
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| Downside threshold: | $79.107, 70% of initial level
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| Pricing date: | July 1
|
| Settlement date: | July 9
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61771BSQ8
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