Chicago, Nov. 1 – Morgan Stanley Finance LLC priced $5.9 million of 10% worst-of fixed-coupon autocallable RevCons due March 30, 2023 linked to the worst performing of the common stocks of PayPal Holdings, Inc., Square Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock closes at or above its redemption initial price on a monthly determination date after six months, the notes will be automatically called at par plus the coupon.
If each stock finishes at or above the 56% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Worst-of fixed-coupon autocallable RevCons
|
| Underlying stocks: | PayPal Holdings, Inc., Square Inc. and Visa Inc.
|
| Amount: | $5.9 million
|
| Maturity: | March 30, 2023
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
|
| Call: | Automatically at par if each stock closes at or above its initial level on a monthly determination date after six months
|
| Initial share prices: | $234.24 for PayPal, $208.47 for Square, $207.97 for Visa
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| Downside threshold levels: | $131.174 for PayPal, $116.743 for Square, $116.463 for Visa; 56% of initial levels
|
| Pricing date: | March 25
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| Settlement date: | March 30
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 2.67%
|
| Cusip: | 61771VMG2
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