Chicago, Feb. 7 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due April 18, 2024 linked to the worst performing of Apple Inc. and Microsoft Corp. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Oct. 18 at par if the price of each 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 worst performing stock closes below its 60% downside threshold in which case investors will be fully exposed to the decline of the worst performing 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 stocks: | Apple Inc. and Microsoft Corp.
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Amount: | $1 million
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Maturity: | April 18, 2024
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Coupon: | 6% annual rate, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
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Call: | Automatically at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date after six months
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Initial levels: | $134.43 for Apple Inc., $258.49 for Microsoft Corp.
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Downside thresholds: | $80.658 for Apple Inc., $155.094 for Microsoft Corp., 60% of initial levels
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Pricing date: | April 13
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.35%
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Cusip: | 61771VUM0
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