Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $500,000 of 16.3% worst-of fixed coupon autocallable RevCons due Oct. 10, 2024 linked to the worst performing of the shares of Devon Energy Corp. and Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
If each stock closes at or above its initial level on a quarterly determination date starting after six months, the notes will be automatically called at par plus the fixed coupon.
If each stock finishes at or above the 50% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Worst-of fixed coupon autocallable RevCons
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| Underlying stocks: | Devon Energy Corp., Occidental Petroleum Corp.
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| Amount: | $500,000
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| Maturity: | Oct. 10, 2024
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| Coupon: | 16.3% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock from its initial share price
|
| Call: | Automatically at par plus the fixed coupon if each stock closes at or above its initial level on any quarterly review date starting after six months
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| Initial share prices: | $72.04 for Devon, $69.80 for Occidental
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| Downside thresholds: | $36.02 for Devon, $34.90 for Occidental; 50% of initial levels
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| Pricing date: | Oct. 7, 2022
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| Settlement date: | Oct. 13, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61774HPA0
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