By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – Morgan Stanley Finance LLC priced $5.22 million of 7.35% fixed-coupon autocallable securities due May 24, 2018 linked to the shares of Transocean Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
After three months, the notes will be called at par if the stock closes at or above the 95% redemption threshold level on any monthly determination date.
If the stock’s final level is at least 50% of its initial level, the payout at maturity will be par plus the coupon.
If any the stock finishes below 50%, investors will be fully exposed to the decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed-coupon autocallable securities
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| Underlying stock: | Transocean Ltd.
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| Amount: | $5,219,000
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| Maturity: | May 24, 2018
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| Coupon: | 7.35%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its 50% downside threshold level, in which case full exposure to decline
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| Call: | Automatically at par plus the coupon if stock closes at or above the 95% redemption threshold level on any monthly determination date after three months
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| Initial level: | $13.16
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| Redemption threshold: | $12.502, 95% of initial price
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| Downside threshold: | $6.58, 50% of initial price
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61768CFM4
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