New York, Dec. 4 – Morgan Stanley Finance LLC priced $1.33 million of phoenix autocallable securities due March 30, 2023 linked to Walt Disney Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10% if the underlying stock closes at or above its downside threshold on the related quarterly observation date.
The securities may be called automatically starting July 1 and on any subsequent quarterly determination date at par if the price of the underlying stock is greater than or equal to its initial price.
At maturity the payout will be par unless the stock closes below its 78.75% 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. will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Walt Disney Co.
|
| Amount: | $1,325,000
|
| Maturity: | March 30, 2023
|
| Coupon: | 10% if the underlying stock closes at or above its downside threshold on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying stock
|
| Call: | Automatically starting July 1 and on any subsequent quarterly determination date at par if the price of the underlying stock is greater than or equal to its initial price
|
| Initial level: | $185.92
|
| Downside threshold: | $146.412, 78.75% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 61771VNX4
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