New York, Dec. 4 – Morgan Stanley Finance LLC priced $3 million of contingent income autocallable securities due April 1, 2024 linked to Palantir Technologies Inc. class A common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 30.4%, paid monthly, if the underlying stock closes at or above its 50% downside threshold on the related monthly observation date.
The securities will be called automatically starting July 1, 2021 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the stock closes below its 50% 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.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Palantir Technologies Inc.
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| Amount: | $3 million
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| Maturity: | April 1, 2024
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| Coupon: | 30.4%, paid monthly, if the underlying stock closes at or above its downside threshold on the related monthly observation date
|
| 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 July 1, 2021 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial level: | $22.58
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| Downside threshold: | $11.29, 50% of initial level
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61771VKZ2
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