By Wendy Van Sickle
Columbus, Ohio, April 3 – Morgan Stanley Finance LLC priced $3.1 million of 0% jump securities with autocallable feature due April 1, 2021 linked to the common stock of Sage Therapeutics, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized call premium of 13.35% if the stock closes at or above the initial level on any annual determination date after one year.
If the stock closes at or above its initial level, the payout at maturity will be $1,400.50 per $1,000 principal amount.
If the stock falls by up to its 85% downside threshold, the payout will be $1,000 per $1,000 of notes.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying stock: | Sage Therapeutics, Inc.
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| Amount: | $3.1 million
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| Maturity: | April 1, 2021
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 13.35% annualized if stock closes at or above initial level on any annual determination date
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| Payout at maturity: | If stock gains, par plus 40.05%; if stock falls by up to 15%, par; otherwise, 1% loss per 1% decline
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| Initial level: | $161.07
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| Barrier level: | $136.91, 85% of initial level
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| Pricing date: | March 29
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| Settlement date: | April 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61768P595
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