By Angela McDaniels
Tacoma, Wash., March 19 – Morgan Stanley Finance LLC priced $376,000 of contingent income autocallable securities due March 18, 2022 linked to the lesser performing of the common stocks of 3M Co. and Mosaic Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each stock closes at or above its downside threshold level, 60% of its initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10%.
Beginning Sept. 16, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly determination date other than the final determination date.
If each stock’s final share price is greater than or equal to its downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the lesser-performing stock declines from its initial share price.
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: | 3M Co. (Symbol: MMM) and Mosaic Co. (Symbol: MOS)
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Amount: | $376,000
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Maturity: | March 18, 2022
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Coupon: | 10% per year, payable quarterly if each stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par
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Payout at maturity: | If each stock’s final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that lesser-performing stock declines from initial share price
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Call: | Beginning Sept. 16, at par plus contingent coupon if each stock closes at or above initial share price on any quarterly determination date other than final determination date
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Initial share prices: | $208.08 for 3M and $28.71 for Mosaic
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Downside thresholds: | $124.848 for 3M and $17.226 for Mosaic; 60% of initial share price
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Pricing date: | March 15
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Settlement date: | March 20
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61768D2P9
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