Chicago, Sept. 19 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due June 3, 2024 linked to the worst performing of the common stocks of Costco Wholesale Corp., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.8%, paid monthly, if each underlying stock closes at or above its 50% downside threshold on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting March 3, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% downside threshold level in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Costco Wholesale Corp., Target Corp. and Walmart Inc.
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Amount: | $1 million
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Maturity: | June 3, 2024
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Coupon: | 10.8% annual rate, paid monthly, if each underlying stock closes at or above its 50% downside threshold on the related monthly observation date; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically starting March 3, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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Initial levels: | $531.06 for Costco Wholesale, $158.69 for Target, $132.88 for Walmart
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Downside thresholds: | $265.53 for Costco Wholesale, $79.345 for Target, $66.44 for Walmart, 50% of initial levels
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Pricing date: | Aug. 29
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Settlement date: | Sept. 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61774D6Z5
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