By Kiku Steinfeld
Chicago, Nov. 24 – Morgan Stanley Finance LLC priced $1.49 million of contingent income autocallable securities due Nov. 25, 2022 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the coupon threshold level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 7.15%.
The notes will be called at par plus the contingent coupon if the shares close at or above the call threshold, 100% of the stock’s initial price, on any quarterly determination date other than the final one after six months.
If the final share price is greater than or equal to the downside threshold level, 70% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Microsoft Corp.
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| Amount: | $1,488,000
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| Maturity: | Nov. 25, 2022
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| Coupon: | 7.15% per year, payable quarterly if shares close at or above coupon threshold level on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus the contingent coupon if the shares close at or above the call threshold, 100% of initial price, on any quarterly determination date other than the final one after six months
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| Initial share price: | $212.42
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| Coupon threshold: | $148.694; 70% of initial share price
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| Downside threshold: | $148.694; 70% of initial share price
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61771EMM7
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