By Kiku Steinfeld
Chicago, Nov. 8 – Morgan Stanley Finance LLC priced $1.25 million of contingent income autocallable securities due March 24, 2023 linked to the common stocks of CrowdStrike Holdings, Inc. and Okta, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly contingent coupon 23.54% per year if each underlying stock closes at or above its 55% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Sept. 23, 2022 at par if the 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 closes below its 55% 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. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| 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: | CrowdStrike Holdings, Inc. and Okta, Inc.
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| Amount: | $1.25 million
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| Maturity: | March 24, 2023
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| Coupon: | 23.54% per year if each underlying stock closes at or above its 55% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes 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 starting Sept. 23, 2022 at par if the 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: | $156.77 for CrowdStrike Holdings, $159.55 for Okta
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| Downside thresholds: | $86.224 for CrowdStrike Holdings, $87.753 for Okta, 55% of initial level
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 61773QNU9
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