By William Gullotti
Buffalo, N.Y., May 3 – Morgan Stanley Finance LLC priced $9.96 million of contingent income autocallable securities due June 2, 2023 linked to the stock performance of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16.5% if the underlying stock closes at or above its 66% coupon threshold on any monthly observation date.
If underlying stock closes at or above its initial price on any monthly determination date after six months, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the 66% downside threshold level, the payout at maturity will be par plus the contingent monthly payment.
Otherwise, investors will be fully exposed to any losses.
The securities are guaranteed by Morgan Stanley.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Ford Motor Co.
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| Amount: | $9,958,000
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| Maturity: | June 2, 2023
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| Coupon: | 16.5% annualized, payable monthly if the stock closes at or above coupon threshold on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise full exposure stock’s decline from initial share price
|
| Call: | Automatically at par plus contingent payment if underlying stock closes at or above initial share price on any monthly determination date after six months
|
| Initial share price: | $14.85
|
| Coupon threshold: | $9.801; 66% of initial price
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| Downside threshold: | $9.801; 66% of initial price
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| Pricing date: | April 27
|
| Settlement date: | May 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61773QS91
|
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