Chicago, June 1 – Morgan Stanley Finance LLC priced $1.33 million of contingent income autocallable securities due Nov. 18, 2024 linked to the worst performing of the common stocks of Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid semiannually, if each underlying stock closes at or above its 65% downside threshold on the related semiannual observation date.
The securities will be called automatically starting May 18, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any semiannual determination date.
At maturity the payout will be par unless the worst performing stock closes below its 65% 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: | Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co.
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| Amount: | $1.33 million
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| Maturity: | Nov. 18, 2024
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| Coupon: | 8% annual rate, paid semiannually, if each underlying stock closes at or above its 65% downside threshold on the related semiannual 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 May 18, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any semiannual determination date
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| Initial levels: | $47.49 for Bank of America, $68.87 for Citigroup, $167.61 for JPMorgan
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| Downside thresholds: | $30.869 for Bank of America, $44.766 for Citigroup, $108.947 for JPMorgan, 65% of initial levels
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| Pricing date: | Nov. 12, 2021
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| Settlement date: | Nov. 19, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.8%
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| Cusip: | 61773HGR4
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