By Kiku Steinfeld
Chicago, Nov. 14 – Morgan Stanley Finance LLC priced $300,000 of contingent income autocallable securities due Dec. 19, 2023 linked to the common stocks of Valero Energy Corp., Ford Motor Co. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 40% per year, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting June 14 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Valero Energy Corp., Ford Motor Co. and Meta Platforms, Inc.
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| Amount: | $300,000
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| Maturity: | Dec. 19, 2023
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| Coupon: | 40%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting June 14 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $15.74 for Ford, $186.63 for Meta, $90.55 for Valero
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| Downside thresholds: | $11.018 for Ford, $130.641 for Meta, $63.385 for Valero, 70% of initial levels
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| Pricing date: | March 14
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| Settlement date: | March 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61773QPY9
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