Chicago, Jan. 27 – Morgan Stanley Finance LLC priced $64.3 million of cash-settled equity-linked notes due Jan. 27, 2028 linked to the common stock of L3Harris Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest will be 0.25% per year, payable quarterly.
The payout at maturity will be par unless the averaging price of the underlying stock is above its 113.75% exchange price, in which case it will be the cash amount, which is the exchange ratio multiplied by the averaging price. The exchange ratio is $1,000 divided by the 113.75% exchange price.
The averaging price will be the arithmetic average of the closing price on three trading days close to the maturity date.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Cash-settled equity-linked notes
|
| Underlying stock: | L3Harris Technologies, Inc.
|
| Amount: | $64,298,250
|
| Maturity: | Jan. 27, 2028
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| Coupon: | 0.25%, payable quarterly
|
| Price: | 102.5
|
| Payout at maturity: | Par unless stock appreciates by more than 13.75%, in which case exchange ratio multiplied by averaging price (arithmetic average of closing price over three days near the maturity date)
|
| Exchange ratio: | 4.527576
|
| Initial share price: | $194.1703
|
| Exchange price: | $220.8687, 113.75% of initial level
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61774TSJ2
|
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