Chicago, Sept. 21 – Morgan Stanley Finance LLC priced $1 million of worst-of fixed-coupon RevCons due July 31, 2023 linked to the worst performing of the common stocks of Starbucks Corp., NextEra Energy, Inc. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6%, paid monthly.
If the worst performing stock gains or declines but ends above the 65% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below the downside threshold level.
The notes are non-callable.
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: | Worst of fixed coupon RevCons
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| Underlying stocks: | Starbucks Corp., NextEra Energy, Inc. and Verizon Communications Inc.
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| Amount: | $1 million
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| Maturity: | July 31, 2023
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| Coupon: | 8.6%, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Initial levels: | $72.64 for NextEra, $95.58 for Starbucks, $51.02 for Verizon
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| Downside thresholds: | $47.216 for NextEra, $62.127 for Starbucks, $33.163 for Verizon, 65% of initial level
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| Call: | Non-callable
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 61773HW88
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