Chicago, May 18 – Morgan Stanley Finance LLC priced $950,000 of phoenix autocallable securities due June 27, 2024 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.59% if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting Sept. 28, 2022 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | FedEx Corp.
|
| Amount: | $950,000
|
| Maturity: | June 27, 2024
|
| Coupon: | 12.59% annual rate, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically starting Sept. 28, 2022 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial level: | $228.13
|
| Downside threshold: | $136.878, 60% of initial level
|
| Pricing date: | June 24, 2022
|
| Settlement date: | June 28, 2022
|
| Agent: | Morgan Stanley & Co. LLC
|
| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 61774DUE5
|
|
|
© 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.
