New York, March 15 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due March 14, 2023 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 14.34% if the ETF closes at or above its 85% coupon barrier on the determination date for that quarter.
Beginning March 11, 2019, the notes will be called at par plus the contingent coupon if the ETF closes at or above its initial price on any of the quarterly determination dates.
The payout at maturity will be par unless the ETF finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
|
| Amount: | $1 million
|
| Maturity: | March 14, 2023
|
| Coupon: | 14.43% annualized, payable quarterly if ETF closes at or above 85% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes at or above downside threshold, par; otherwise, full exposure to losses
|
| Call: | At par if ETF closes at or above initial price on any of the first three determination dates
|
| Initial share price: | $34.77
|
| Coupon barrier: | $29.555, 85% of initial level
|
| Downside threshold: | $26.078, 75% of initial level
|
| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 0%
|
| Cusip: | 61768CK63
|
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