By Kiku Steinfeld
Chicago, March 22 – Morgan Stanley Finance LLC priced $951,000 of contingent income autocallable securities due Sept. 21, 2023 linked to Wynn Resorts, Ltd. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.25%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 22, 2022 at par if the price of the 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 stock closes below its 60% downside threshold in which case investors will be fully exposed to the decline of the 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 stock: | Wynn Resorts, Ltd.
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| Amount: | $951,000
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| Maturity: | Sept. 21, 2023
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| Coupon: | 13.25%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying stock
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| Call: | Automatically starting March 22, 2022 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial level: | $83.29
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| Downside threshold: | $49.974, 60% of initial level
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| Pricing date: | Sept. 17, 2021
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| Settlement date: | Sept. 22, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773FZC0
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