By Wendy Van Sickle
Columbus, Ohio, May 11 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due April 28, 2022 tied to the worst performing of the stocks of Boeing Co., Microsoft Corp. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 22.75% per year if each stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date that period.
The notes will be automatically called at par if each stock closes at or above its initial level on any monthly call determination date after three months.
If the lowest-performing stock finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par plus the final coupon. If the lowest-performing stock finishes below its downside threshold level, investors will be fully exposed to the decline of the lowest-performing stock from its initial level.
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: | Boeing Co., Microsoft Corp. and Visa Inc.
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| Amount: | $500,000
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| Maturity: | April 28, 2022
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| Coupon: | 22.75% per year, payable monthly if each stock closes at or above coupon barrier level on any observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par; if any stock finishes below downside threshold level, full exposure to decline of lowest-performing stock from its initial level
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| Call option: | At par if each stock closes at or above its initial level on any monthly call determination date after three months
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| Initial levels: | $235.92 for Boeing, $260.58 for Microsoft and $227.45 for Visa
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| Coupon barriers: | $141.552 for Boeing, $156.348 for Microsoft and $136.47 for Visa; 60% of initial levels
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| Downside threshold levels: | $141.552 for Boeing, $156.348 for Microsoft and $136.47 for Visa; 60% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771VA26
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