By Kiku Steinfeld
Chicago, Dec. 5 – Morgan Stanley Finance LLC priced $350,000 of callable contingent income securities due April 29, 2024 linked to common stock of Qualcomm Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call determination date.
At maturity the payout will be par unless the stock closes below its 55% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $350,000
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| Maturity: | April 29, 2024
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| Coupon: | 11%, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly 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
|
| Call: | At par on any quarterly call determination date
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| Initial level: | $118.64
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| Downside threshold: | $65.252, 55% of initial level
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| Pricing date: | April 20, 2023
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| Settlement date: | April 25, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61774XRN5
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