By Kiku Steinfeld
Chicago, Dec. 10 – Morgan Stanley Finance LLC priced $1.67 million of contingent income autocallable securities due Sept. 23, 2022 linked to the common stock of Airbnb, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at an annual rate of 10.5% if the stock closes at or above its downside threshold level, 67% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes above its initial level on any monthly redemption date after six months.
The payout at maturity will be par unless the stock finishes below its 67% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Airbnb, Inc.
|
| Amount: | $1,665,000
|
| Maturity: | Sept. 23, 2022
|
| Coupon: | 10.5% per year, payable each month that stock closes at or above downside threshold on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par; otherwise, full exposure to stock’s decline
|
| Call: | Par plus the contingent coupon if the stock closes above initial level on any monthly redemption date after six months
|
| Initial share price: | $143.70
|
| Downside threshold level: | $96.279, 67% of initial share price
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61773FQZ9
|
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