By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – Morgan Stanley Finance LLC priced $5.86 million of contingent income autocallable securities due Nov. 5, 2021 linked to Citigroup Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if the stock closes at or above the 65% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date.
The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| 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: | Citigroup Inc.
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| Amount: | $5,861,820
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| Maturity: | Nov. 5, 2021
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| Coupon: | 8.25% annualized, payable each quarter if stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date
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| Initial share price: | $65.92
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| Downside threshold: | $42.848, 65% of initial level
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 7
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 61768T597
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