By Sarah Lizee
Olympia, Wash., May 21 – Morgan Stanley Finance LLC priced $2.54 million of trigger autocallable contingent yield notes due May 18, 2023 linked to Visa 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 quarterly coupon at an annual rate of 9% if the stock closes at or above its coupon barrier level, 60.4% of its initial level, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any observation date beginning Nov. 19.
The payout at maturity will be par plus any coupon unless the stock finishes below the 60.4% downside threshold level, in which case investors will lose 1% for each 1% decline from its initial level.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Visa Inc.
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| Amount: | $2,541,300
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| Maturity: | May 18, 2023
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| Coupon: | 9%, payable quarterly if stock closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
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| Call: | At par plus contingent coupon if the stock closes at or above initial level on any observation date after Nov. 19
|
| Payout at maturity: | Par plus any coupon unless stock closes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Initial level: | $183.49
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| Coupon barrier: | $110.83, 60.4% of initial level
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| Downside threshold: | $110.83, 60.4% of initial level
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 61769P776
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