New Issue: Morgan Stanley prices $5 million 17.25% worst-of fixed coupon RevCons on three stocks

By Taylor Fox

New York, Feb. 22 – Morgan Stanley Finance LLC priced $5 million of 17.25% worst-of fixed coupon RevCons due Feb. 2, 2023 linked to the worst performing of the stocks of American Airlines Group, Inc., Starbucks Corp. and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Interest is payable monthly.

If each stock finishes at or above the 60% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Worst-of fixed coupon RevCons
Underlying stocks:	American Airlines Group, Inc., Starbucks Corp. and Bank of America Corp.
Amount:	$5 million
Maturity:	Feb. 2, 2023
Coupon:	17.25%, payable monthly
Price:	Par
Payout at maturity:	If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
Initial share prices:	$16.56 for American Airlines, $97.87 for Starbucks and $29.83 for Bank of America
Downside thresholds:	$9.936 for American Airlines, $58.722 for Starbucks and $17.898 for Bank of America; 60% of initial levels
Pricing date:	Jan. 28
Settlement date:	Feb. 2
Underwriter:	Morgan Stanley & Co. LLC
Fees:	0.32%
Cusip:	61771EV21

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