Published on 6/9/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 contingent income autocallables on Amazon
By Sarah Lizee
Olympia, Wash., June 9 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due Dec. 7, 2020 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.85% if the stock closes at or above the 75% coupon barrier on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless the stock finishes below its downside threshold, 80% of initial level, in which case investors will be fully exposure to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is 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: | Amazon.com, Inc.
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| Amount: | $500,000
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| Maturity: | Dec. 7, 2020
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| Coupon: | 12.85% annualized, payable monthly if stock closes at or above coupon barrier level on determination date for that month
|
| Price: | Par
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| Payout at maturity: | If final share price is at or above downside threshold, par; otherwise, lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any monthly determination date
|
| Initial share price: | $2,401.10
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| Coupon barrier: | $1,800.825, 75% of initial level
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| Downside threshold: | $1,920.88, 80% of initial level
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| Pricing date: | June 1
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| Settlement date: | June 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61771BLM4
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