New York, June 3 – Morgan Stanley Finance LLC upsized to $5.5 million its offering of CMS curve range accrual securities due May 31, 2036 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The interest rate is 8% per year multiplied by the proportion of days on which the spread of the 30-year ICE swap rate over the two-year ICE swap rate is greater than or equal to zero and each index closes at or above its index reference level, 50% of its initial level. Interest is payable monthly.
If each index finishes at or above its barrier level, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worse-performing index.
The issuer originally priced $1.28 million of the securities on May 18.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | CMS curve range accrual securities
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $5.5 million
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| Maturity: | May 31, 2036
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| Coupon: | 8% per year multiplied by proportion of days on which spread of 30-year ICE swap rate over two-year ICE swap rate is greater than or equal to zero and each index closes at or above index reference level; payable monthly
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| Price: | Variable prices
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| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to decline of worse-performing index
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| Initial levels: | Indexes’ closing levels on May 25
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| Index reference levels: | 50% of initial levels
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| Barrier levels: | 50% of initial level
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| Pricing date: | May 18
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| Settlement date: | May 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4%
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| Cusip: | 61766YAC5
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