New York, March 10 – Morgan Stanley Finance LLC priced $1.71 million of phoenix autocallable securities due March 7, 2025 linked to Bank of America Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.85% if the underlying stock closes at or above its 82% downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 9 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 82% 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. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $1,705,000
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| Maturity: | March 7, 2025
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| Coupon: | 12.85% if the underlying stock closes at or above its 82% 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 June 9 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial level: | $40.95
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| Downside threshold: | $33.579, 82% of initial level
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| Pricing date: | March 4
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| Settlement date: | March 9
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| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 2%
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| Cusip: | 61773QLT4
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