By Taylor Fox
New York, Nov. 25 – Morgan Stanley Finance LLC sold $2.41 million of contingent income autocallable securities due May 23, 2022 tied to common stock of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 15.2% per year if the stock closes at or above its coupon threshold level, 60% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if the stock closes at or above 80% of its initial level on any monthly redemption determination date beginning Feb. 23, 2021.
The payout at maturity will be par plus any coupon unless the stock finishes below its 50% downside threshold, in which case investors will be fully exposed to the performance of the stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Zoom Video Communications, Inc.
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| Amount: | $2,408,000
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| Maturity: | May 23, 2022
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| Coupon: | 15.2% per year, payable each month if each stock closes at or above its coupon threshold level on the related determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the stock finishes below its downside threshold, in which case investors will be fully exposed to the performance of the stock
|
| Call: | Automatically at par plus coupon if the stock closes at or above 80% of its initial level on any monthly redemption determination date beginning Feb. 23, 2021
|
| Initial level: | $415.04
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| Call threshold level: | $332.032, 80% of initial level
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| Coupon threshold: | $249.024; 60% of initial level
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| Downside threshold level: | $207.52; 50% of initial level
|
| Pricing date: | Nov. 18
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| Settlement date: | Nov. 23
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61771EKW7
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