By Sarah Lizee
Olympia, Wash., Jan. 3 – Morgan Stanley Finance LLC priced $1.72 million of callable contingent income securities due Dec. 28, 2022 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Every six months, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the final coupon.
If any index finishes below its barrier level, investors will lose 1% for every 1% decline of the lesser performing index.
After six months, the notes will be callable at par on any coupon payment date.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $1,715,000
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Maturity: | Dec. 28, 2022
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Coupon: | 8% per year, payable every six months if each index closes at or above its coupon barrier level on the observation date that period
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Price: | Par
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Payout at maturity: | Par if each index finishes at or above barrier level; if any index finishes below barrier level, 1% for every 1% decline of the lesser performing index
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Call option: | After six months, at par on any semiannual date
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Initial levels: | 1,671.902 for Russell, 3,776.56 for Stoxx
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Coupon barrier/final barriers: | 1,170.331 for Russell, 2,643.592 for Stoxx; 70% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61769HX34
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