By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $1.28 million of 10% fixed-coupon autocallable securities due Jan. 26, 2023 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
If the stock closes at or above its initial price, on a quarterly determination date after six months, the notes will be automatically called at par plus the coupon.
If the stock finishes at or above the 75% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the stock from its initial price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed-coupon autocallable securities
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| Underlying stock: | Alibaba Group Holding Ltd.,
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| Amount: | $1,278,000
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| Maturity: | Jan. 26, 2023
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| Coupon: | 10%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the final level of the stock is below downside threshold level in which case investors will be fully exposed to any losses
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| Call: | Automatically at par if the stock closes at or above its redemption threshold level, 100% of initial level, on a quarterly determination date after six months
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| Initial share price: | $260
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| Downside threshold level: | $195; 75% of initial levels
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61771EZZ4
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