By Taylor Fox
New York, Nov. 23 – Morgan Stanley Finance LLC priced $4.79 million of contingent income autocallable securities due Nov. 16, 2023 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.75% if the stock closes at or above its coupon barrier, 65% of its initial level, on the determination date for that period.
The notes will be called at par of $10 plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date after six months.
The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $4,788,500
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| Maturity: | Nov. 16, 2023
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| Coupon: | 8.75% per year, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par; otherwise, full exposure to stock’s decline
|
| Call: | Par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date after six months
|
| Initial share price: | $276.95
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| Coupon barrier level: | $180.018, 65% of initial share price
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| Downside threshold level: | $180.018, 65% of initial share price
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management LLC
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| Fees: | 2.5%
|
| Cusip: | 61771G392
|
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