New York, Feb. 7 – Morgan Stanley Finance LLC priced $3.2 million of contingent income autocallable securities due April 18, 2024 linked to Royal Caribbean Cruises Ltd., Carnival Corp. common stocks and Norwegian Cruise Line Holdings Ltd. ordinary shares, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17%, paid quarterly, if each underlying stock closes at or above its 50% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Oct. 18, 2021 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Royal Caribbean Cruises Ltd., Carnival Corp. and Norwegian Cruise Line Holdings Ltd.
|
| Amount: | $3.2 million
|
| Maturity: | April 18, 2024
|
| Coupon: | 17%, paid quarterly, if each underlying stock closes at or above its 50% downside threshold on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
|
| Call: | Automatically starting Oct. 18, 2021 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
|
| Initial levels: | $27.82 for Carnival, $29.41 for Norwegian, $86.53 for Royal Caribbean
|
| Downside thresholds: | $13.91 for Carnival, $14.705 for Norwegian, $43.265 for Royal Caribbean, 50% of initial levels
|
| Pricing date: | April 13
|
| Settlement date: | April 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 61771VUL2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
