New York, May 27 – Morgan Stanley Finance LLC priced $6.56 million of contingent income autocallable securities due May 23, 2025 linked to Walt Disney Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly review date.
At maturity, the payout will be par unless the stock finishes below its 60% 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: | Contingent income autocallable securities
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| Underlying stock: | Walt Disney Co.
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| Amount: | $6,557,610
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| Maturity: | May 23, 2025
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| Coupon: | 10.75%, paid quarterly, if the underlying stock closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par of $10
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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 underlying stock
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| Call: | Automatically at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly review date
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| Initial level: | $102.42
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| Downside threshold: | $61.452, 60% of initial level
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| Pricing date: | May 20
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| Settlement date: | May 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5% including a structuring fee of 0.5%
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| Cusip: | 61773Y813
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