By Wendy Van Sickle
Columbus, Ohio, May 11 – Morgan Stanley Finance LLC priced $2.21 million of buffered autocallable securities due April 28, 2023 linked to West Texas Intermediate light sweet crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus a 10% annualized premium if oil closes at or above its initial price on April 25, 2022 or Oct. 25, 2022.
The payout at maturity will be par plus 20% if oil finishes at or above its initial price. The payout will be par if oil falls by up to 15%; otherwise, investors will lose 1% for every 1% that oil declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered autocallable securities
|
| Underlying commodity: | West Texas Intermediate light sweet crude oil
|
| Amount: | $2,212,000
|
| Maturity: | April 28, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 20% if oil finishes at or above initial price, par if oil falls but not below buffer level; otherwise, 1% loss for every 1% that oil declines beyond buffer
|
| Call: | Automatically at par plus 10% per year if oil closes at or above initial price on April 25, 2022 or Oct. 25, 2022
|
| Initial price: | $62.14
|
| Buffer level: | $52.819; 85% of initial level
|
| Pricing date: | April 23
|
| Settlement date: | April 28
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61771VUJ7
|
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