By Marisa Wong
Morgantown, W.Va., May 4 – Morgan Stanley Finance LLC priced $1.99 million of contingent income autocallable securities due April 29, 2019 linked to Netflix, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If Netflix stock closes at or above the 60% downside threshold level on a quarterly determination date, the notes will pay a contingent coupon at a rate of 12% per year for that quarter.
If Netflix stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If Netflix stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is Morgan Stanley & Co. LLC.
| 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 stock: | Netflix, Inc. (Nasdaq: NFLX)
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| Amount: | $1,988,000
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| Maturity: | April 29, 2019
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| Contingent payment: | 12% per year for quarter if Netflix stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if Netflix stock finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if Netflix stock closes at or above initial price on any determination date
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| Initial share price: | $92.43
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| Downside threshold: | $55.458, 60% of initial price
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61766BAJ0
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