New York, March 28 – Morgan Stanley Finance LLC priced $1.48 million of callable contingent income securities due March 26, 2025 linked to common stock of American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Sept. 26, 2023.
At maturity, the payout will be par unless the stock finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying stock: | American Express Co.
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| Amount: | $1,475,000
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| Maturity: | March 26, 2025
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| Coupon: | 13%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the underlying stock
|
| Call option: | At par on any quarterly call date starting Sept. 26, 2023
|
| Initial level: | $164.56
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| Downside threshold: | $115.192, 70% of initial level
|
| Pricing date: | March 21
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| Settlement date: | March 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61774XDV2
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