By Taylor Fox
New York, March 10 – Morgan Stanley Finance LLC priced $3.05 million of contingent income autocallable securities due Aug. 31, 2022 linked to the shares of DoorDash, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16.75% if the stock closes at or above the coupon threshold, 60% of the initial share price, on a quarterly observation date.
The notes will be called at par plus the contingent coupon if the shares close at or above 80% of the initial share price on any monthly observation date after three months.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 50% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | DoorDash, Inc.
|
| Amount: | $3,050,000
|
| Maturity: | Aug. 31, 2022
|
| Coupon: | 16.75% per year, payable monthly if shares close at or above the coupon threshold on monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if shares close at or above 80% of initial share price on any monthly observation date after three months
|
| Initial price: | $169.49
|
| Call threshold: | $135.592, 80% of initial price
|
| Coupon threshold: | $101.694, 60% of initial price
|
| Downside threshold: | $84.745, 50% of initial price
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.85%
|
| Cusip: | 61771VCA6
|
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