By Wendy Van Sickle
Columbus, Ohio, May 20 – Morgan Stanley Finance LLC priced $1.4 million of contingent income autocallable securities due May 4, 2023 tied to the worst performing of the stocks of Airbnb, Inc., FedEx Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 6.12% per year if each stock closes at or above its coupon barrier level, 50% of its initial level, on the observation date that period.
The notes will be automatically called at par if each stock closes at or above 87% of its initial level on any monthly call determination date after four months.
If the lowest-performing stock finishes at or above its downside threshold level, 50% of its initial level, the payout at maturity will be par plus the final coupon. If the lowest-performing stock finishes below its downside threshold level, investors will be fully exposed to the decline of the lowest-performing stock from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Airbnb, Inc., FedEx Corp. and Walmart Inc.
|
| Amount: | $1.4 million
|
| Maturity: | May 4, 2023
|
| Coupon: | 6.12% per year, payable monthly if each stock closes at or above coupon barrier level on any observation date
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold level, par; if any stock finishes below downside threshold level, full exposure to decline of lowest-performing stock from its initial level
|
| Call option: | At par if each stock closes at or above 87% of its initial level on any monthly call determination date after four months
|
| Initial levels: | $177.94 for Airbnb, $287.51 for FedEx and $138.38 for Walmart
|
| Coupon barriers: | $88.97 for Airbnb, $143.755 for FedEx and $69.19 for Walmart; 50% of initial levels
|
| Downside threshold levels: | $88.97 for Airbnb, $143.755 for FedEx and $69.19 for Walmart; 50% of initial levels
|
| Pricing date: | April 28
|
| Settlement date: | May 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61771VYK0
|
© 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.
