New York, Feb. 22 – Morgan Stanley Finance LLC priced $1.15 million of phoenix autocallable securities due March 4, 2024 linked to the class C capital stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.7% per year, payable quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly determination date.
At maturity the payout will be par unless the stock closes below its 70% downside threshold level 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. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA 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: | Alphabet Inc.
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Amount: | $1.15 million
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Maturity: | March 4, 2024
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Coupon: | 14.7%, paid quarterly if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly determination date
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Initial level: | $94.95
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Downside threshold: | $66.465, 70% of initial level
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Strike date: | Feb. 14
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Pricing date: | Feb. 15
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Settlement date: | Feb. 21
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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: | 61774TJ60
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