Published on 3/28/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.1 million 8.5% worst-of autocallable RevCons on stocks
Chicago, March 29 – Morgan Stanley Finance LLC priced $3.1 million of 8.5% worst-of fixed-coupon autocallable RevCons due March 22, 2023 linked to the worst performing of the common stocks of Broadcom Inc., Facebook, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
Beginning Sept. 22, the notes will be automatically called at par if each stock closes at or above its redemption threshold level, 100% of its initial price, on a monthly determination date.
If each stock finishes at or above its 60% downside threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Worst-of fixed-coupon autocallable RevCons
|
| Underlying stocks: | Broadcom Inc., Facebook, Inc. and Microsoft Corp.
|
| Amount: | $3,100,000
|
| Maturity: | March 22, 2023
|
| Coupon: | 8.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold level, par; otherwise, investors will be fully exposed to the decline of the least performing stock
|
| Call: | Beginning Sept. 22, automatically at par if each stock closes at or above its redemption threshold level, 100% of initial level, on a monthly determination date
|
| Initial share prices: | $483.59 for Broadcom, $284.01 for Facebook and $237.04 for Microsoft
|
| Downside thresholds: | $290.154 for Broadcom, $170.406 for Facebook and $142.224 for Microsoft; 60% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61771VHX1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
