New York, Dec. 13 – Morgan Stanley Finance LLC priced $1.86 million of phoenix autocallable securities due Sept. 7, 2022 linked to the class A common stock of Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22.6% if the underlying stock closes at or above its downside threshold on the related quarterly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon payment is made.
The securities may be called automatically starting Dec. 7 and on any subsequent determination date at par if the price of the underlying stock is greater than or equal to its initial price.
At maturity the payout will be par unless the stock closes below its 65% downside threshold 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. will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Peloton Interactive, Inc. class A
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| Amount: | $1.86 million
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| Maturity: | Sept. 7, 2022
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| Coupon: | 22.6% if the underlying stock closes at or above its downside threshold on the related quarterly observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| 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 underlying stock
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| Call: | Automatically starting Dec. 7 and on any subsequent determination date at par if the price of the underlying stock is greater than or equal to its initial price
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| Initial level: | $110.65
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| Downside threshold: | $71.923, 65% of initial level
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 61773FRS4
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