Chicago, Oct. 25 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due May 26, 2023 linked to the class A common stock of Snowflake Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22.5%, paid quarterly, if the 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 starting May 26 at par if the price of the 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 stock closes below its 55% downside threshold level in which case investors will be fully exposed to the decline of the 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 stock: | Snowflake Inc.
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| Amount: | $500,000
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| Maturity: | May 26, 2023
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| Coupon: | 22.5% annual rate, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting May 26 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial level: | $252.63
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| Downside threshold: | $138.947, 55% of initial level
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61773QEH8
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