New York, March 8 – Morgan Stanley Finance LLC priced $3 million of contingent income autocallable securities due March 11, 2024 linked to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing 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 finishes below its 55% downside threshold level, 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Schlumberger Ltd.
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| Amount: | $3,003,000
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| Maturity: | March 11, 2024
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| Coupon: | 11.25%, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically at par if the closing 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: | $55.99
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| Downside threshold: | $30.795, 55% of initial level
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75% including a structuring fee of 0.5%
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| Cusip: | 61774U521
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