New York, Nov. 27 – Morgan Stanley Finance LLC priced $1.37 million of contingent income autocallable securities due May 22, 2025 linked to the common stock of Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.2%, paid monthly, if the underlying stock closes at or above its 60% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date starting May 22, 2024.
At maturity, the payout will be par unless the stock finishes below its 60% 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: | Charles Schwab Corp.
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| Amount: | $1,373,000
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| Maturity: | May 22, 2025
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| Coupon: | 10.2%, paid monthly, if the underlying stock closes at or above its 60% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes 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 at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date starting May 22, 2024
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| Initial level: | $56.78
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| Downside threshold: | $34.068, 60% of initial level
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61775MYT7
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