New York, April 22 – Morgan Stanley Finance LLC priced $1.64 million of callable contingent income securities due Oct. 16, 2025 linked to common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid monthly, if the underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date starting Oct. 17, 2024.
At maturity, the payout will be par unless the stock finishes below its 50% 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.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying stock: | Nvidia Corp.
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Amount: | $1,638,000
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Maturity: | Oct. 16, 2025
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Coupon: | 16.5%, paid monthly, if the underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
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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 option: | At par on any quarterly call date starting Oct. 17, 2024
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Initial level: | $906.16
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Downside threshold: | $453.08, 50% of initial level
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Coupon barrier: | $634.312, 70% of initial level
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Pricing date: | April 11
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61776LSX6
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