By Kiku Steinfeld
Chicago, March 28 – Morgan Stanley Finance LLC priced $1.15 million of contingent income autocallable securities due Oct. 6, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly contingent coupon of 5% per year plus any previously unpaid contingent coupons if the index closes at or above its 65% coupon barrier on any quarterly observation date.
Starting Jan. 3, 2022, the securities will be called automatically at par if the index closes at or above its initial level on any quarterly call determination date.
At maturity the payout will be par unless the underlying index finishes below its 65% downside threshold, in which case investors will be fully exposed to the decline of the index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA acted as placement agents.
| 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 index: | S&P 500 index
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| Amount: | $1.15 million
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| Maturity: | Oct. 6, 2022
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| Coupon: | 5% per year paid quarterly plus any previously unpaid contingent coupons if the index closes at or above its coupon barrier on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying index
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| Call: | Starting Jan. 3, 2022, automatically at par if the index closes at or above its initial level on any quarterly call determination date
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| Initial level: | 4,357.73
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| Coupon barrier/downside threshold: | 2,832.525, 65% of initial level
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| Pricing date: | Sept. 21, 2021
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| Settlement date: | Sept. 24, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 61773FH22
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