By Sarah Lizee
Olympia, Wash., Jan. 24 – Morgan Stanley Finance LLC priced $1.23 million of 14.1% fixed-coupon autocallable securities due Jan. 26, 2021 linked to the shares of Biogen Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if the stock closes at or above the 100% redemption threshold level on any quarterly determination date.
If the stock closes at or above 70% of its initial level on every trading day during the life of the notes, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-coupon autocallable securities
|
| Underlying stock: | Biogen Inc.
|
| Amount: | $1,227,000
|
| Maturity: | Jan. 26, 2021
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| Coupon: | 14.1%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If the stock closes at or above 70% of its initial level on every trading day during the life of the notes, par; otherwise, investors will be fully exposed to the decline
|
| Call: | Automatically at par if the stock closes at or above the 100% redemption threshold level on any quarterly determination date
|
| Initial level: | $287.19
|
| Downside threshold: | $201.033, 70% of initial price
|
| Pricing date: | Jan. 21
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| Settlement date: | Jan. 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.875%
|
| Cusip: | 61770FDD5
|
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