By Wendy Van Sickle
Columbus, Ohio, March 27 – Morgan Stanley Finance LLC priced $7.3 million of contingent income autocallable securities due March 26, 2021 linked to the common stock of Blackstone Group LP, 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 10.1% if the stock closes at or above its 75% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any of the first 11 determination dates.
The payout at maturity will be par unless the stock 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
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| Underlying stock: | Blackstone Group LP
|
| Amount: | $7,298,840
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| Maturity: | March 26, 2021
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| Coupon: | 10.1% annualized, payable quarterly if stock closes at or above downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to losses
|
| Call: | At par if stock closes at or above initial share price on any of the first 11 determination dates
|
| Initial share price: | $31.88
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| Downside threshold: | $23.91, 75% of initial level
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| Pricing date: | March 23
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| Settlement date: | March 28
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 2.5%
|
| Cusip: | 61768P488
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