Chicago, Dec. 2 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due March 23, 2023 linked to the worst performing of the common stocks of Capital One Financial Corp., JPMorgan Chase & Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 30.75%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date.
The securities will be called automatically starting June 17 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 60% downside threshold level 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: | Capital One Financial Corp., JPMorgan Chase & Co. and Tesla, Inc.
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Amount: | $500,000
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Maturity: | March 23, 2023
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Coupon: | 30.75% annual rate, paid monthly, if each 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 worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically starting June 23 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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Initial levels: | $137.55 for Capital One, $140.15 for JPMorgan Chase, $871.60 for Tesla
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Downside thresholds: | $82.53 for Capital One, $84.09 for JPMorgan Chase, $522.96 for Tesla, 60% of initial levels
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Pricing date: | March 17
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Settlement date: | March 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61773QQA0
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