New York, Jan. 4 – Morgan Stanley Finance LLC priced $3.14 million of contingent income autocallable securities due Dec. 20, 2024 linked to Walt Disney Co. and Netflix, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid quarterly, if each underlying stock closes at or above its downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 17 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 75% downside threshold 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: | Walt Disney Co. and Netflix, Inc.
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| Amount: | $3,144,000
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| Maturity: | Dec. 20, 2024
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| Coupon: | 13.5%, paid quarterly, if each underlying stock closes at or above its downside threshold on the related quarterly observation date
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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 underlying stock
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| Call: | Automatically starting March 17 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $148.76 for Disney, $586.73 for Netflix
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| Downside thresholds: | $111.57 for Disney, $440.048 for Netflix, 75% of initial levels
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773HNU9
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