By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $2.83 million of contingent income autocallable securities due July 19, 2022 linked to the common stock of Enphase Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 13% if the underlying stock closes at or above its 60% coupon threshold on the determination date that quarter.
The notes will be called at par if the stock closes at or above 80% of its initial level on any monthly determination date after three months.
The payout at maturity will be par unless the stock finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses.
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: | Enphase Energy, Inc.
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| Amount: | $2,832,000
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| Maturity: | July 19, 2022
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| Coupon: | 13% annualized, payable monthly if stock closes at or above coupon threshold on determination date for that period
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par plus any coupon; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above 80% of its initial level on any monthly determination date after three months
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| Initial price: | $208.83
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| Downside threshold: | $104.415, 50% of initial price
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| Coupon threshold: | $125.298, 60% of initial level
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| Call threshold: | $167.064, 80% of initial level
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
|
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| Cusip: | 61771EG69
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