New York, March 17 – Morgan Stanley Finance LLC priced $3 million of contingent income autocallable securities due March 13, 2025 linked to the common stocks of Microsoft Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of each 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 worst performing stock finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing 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 stocks: | Microsoft Corp. and Nvidia Corp.
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| Amount: | $3 million
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| Maturity: | March 13, 2025
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| Coupon: | 21%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $248.59 for Microsoft, $229.65 for Nvidia
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| Downside thresholds: | $149.154 for Microsoft, $137.79 for Nvidia, 60% of initial level
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| Strike date: | March 10
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| Pricing date: | March 13
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| Settlement date: | March 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61774XAM5
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