By Taylor Fox
New York, Feb. 22 – Morgan Stanley Finance LLC priced $13.57 million of contingent income autocallable securities due Feb. 1, 2024 linked to Ford Motor Co. common 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 11.99% if the stock closes at or above the 60% 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 quarterly determination date after six months.
The payout at maturity will be par unless the stock finishes below its 60% 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 with Morgan Stanley Wealth Management as a selected dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $13,573,000
|
| Maturity: | Feb. 1, 2024
|
| Coupon: | 11.99% 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 quarterly determination date after six months
|
| Initial share price: | $10.79
|
| Downside threshold: | $6.474, 60% of initial level
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a selected dealer
|
| Fees: | 2.5%
|
| Cusip: | 61771EN20
|
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