By Wendy Van Sickle
Columbus, Ohio., June 17 – Morgan Stanley Finance LLC priced $5.25 million of contingent income autocallable securities due Sept. 16, 2021 linked to Zoom Video Communications, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 15.75% if the stock closes at or above the 60% coupon barrier on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above 80% of its initial level on any monthly determination date after three months.
The payout at maturity will be par unless the stock finishes below its downside threshold, 50% of initial level, in which case investors will be fully exposure to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Zoom Video Communications, Inc.
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| Amount: | $5,251,000
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| Maturity: | Sept. 16, 2021
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| Coupon: | 15.75% annualized, payable monthly if stock closes at or above coupon barrier level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If final share price is at or above downside threshold, par; otherwise, lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above 80% of initial share price on any monthly determination date after three months
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| Initial share price: | $222.07
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| Coupon barrier: | $133.242, 60% of initial level
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| Downside threshold: | $111.35, 50% of initial level
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| Pricing date: | June 11
|
| Settlement date: | June 16
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 61771BML5
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