By Wendy Van Sickle
Columbus, Ohio, March 19 – Morgan Stanley Finance LLC priced $3.75 million of contingent income autocallable securities due Feb. 29, 2024 linked to the shares of 3M Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.15% if the stock closes at or above the coupon threshold, 80% 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 initial share price on any quarterly observation date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 80% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | 3M Co.
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| Amount: | $3,749,500
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| Maturity: | Feb. 29, 2024
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| Coupon: | 8.15% per year, payable quarterly if shares close at or above the coupon threshold on the observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly observation date
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| Initial price: | $175.06
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| Downside threshold: | $140.048, 80% of initial price
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| Pricing date: | Feb. 26
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| Settlement date: | March 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771U300
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