By William Gullotti
Buffalo, N.Y., Aug. 23 – Morgan Stanley Finance LLC priced $1.02 million of 8.5% fixed coupon securities due June 28, 2023 linked to the performance of Airbnb, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
If the final level of the stock is greater than or equal to 65% of its initial level, the payout at maturity will be par plus the last fixed coupon. Otherwise, investors will lose 1% for every 1% that the stock declined from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed coupon securities
|
| Underlying stock: | Airbnb, Inc.
|
| Amount: | $1,024,000
|
| Maturity: | June 28, 2023
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| Coupon: | 8.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If final level of the stock is greater than or equal to 65% of initial level, par plus last fixed coupon; otherwise, 1% loss for every 1% decline from initial level
|
| Initial share price: | $151.58
|
| Barrier level: | $98.527; 65% of initial levels
|
| Pricing date: | June 23
|
| Settlement date: | June 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61771VZ94
|
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