By Wendy Van Sickle
Columbus, Ohio, April 14 – Morgan Stanley Finance LLC priced $14.65 million of contingent income autocallable securities due April 12, 2024 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.25% if the stock closes at or above its coupon barrier, 75% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Walt Disney Co.
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| Amount: | $14,645,200
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| Maturity: | April 12, 2024
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| Coupon: | 9.25% per year, payable each quarter that stock closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par; otherwise, full exposure to stock’s decline
|
| Call: | Par plus the contingent coupon if the stock closes above initial level on any quarterly redemption date
|
| Initial share price: | $187.89
|
| Coupon threshold: | $140.918, 75% of initial share price
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| Downside threshold: | $140.918, 75% of initial share price
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| Pricing date: | April 9
|
| Settlement date: | April 14
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61772X113
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