New York, May 18 – Morgan Stanley Finance LLC priced $3.13 million of contingent income autocallable securities due May 20, 2026 linked to the common stocks of UnitedHealth Group Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, 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 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 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.
| 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: | UnitedHealth Group Inc. and Walmart Inc.
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| Amount: | $3.13 million
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| Maturity: | May 20, 2026
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| Coupon: | 8%, paid quarterly, if each underlying stock closes at or above its 55% 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: | $486.86 for UnitedHealth Group, $151.88 for Walmart
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| Downside thresholds: | $267.773 for UnitedHealth Group, $83.534 for Walmart, 55% of initial level
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.125%
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| Cusip: | 61774XZH9
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