By Kiku Steinfeld
Chicago, April 29 – Morgan Stanley Finance LLC priced $1.6 million of 11.75% fixed coupon autocallable securities due Oct. 3, 2024 linked to Stitch Fix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The securities will be called automatically at par plus the fixed coupon on any quarterly review date starting March 28, 2022.
If the final level of the stock is greater than or equal to 55% of its initial share price, the payout at maturity will be par plus the final coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its 55% downside threshold level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed coupon autocallable securities
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| Underlying stock: | Stitch Fix, Inc.
|
| Amount: | $1,595,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 11.75% per year, paid quarterly
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above its downside threshold level, par plus final coupon; 1% loss for every 1% that stock declines if it finishes below its downside threshold
|
| Call: | Automatically at par plus fixed coupon on any quarterly review date starting March 28, 2022
|
| Initial level: | $41.60
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| Downside threshold: | $22.88, 55% of initial level
|
| Pricing date: | Sept. 28, 2021
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| Settlement date: | Sept. 30, 2021
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 61773FM91
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