By Wendy Van Sickle
Columbus, Ohio, May 7 – Morgan Stanley Finance LLC priced $5 million of 6.25% worst-of fixed coupon RevCons due Oct. 26, 2022 linked to the worst performing of the stocks of Wells Fargo & Co., Coca-Cola Co. and 3M Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock finishes at or above the 65% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
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: | Wells Fargo & Co., Coca-Cola Co. and 3M Co.
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Amount: | $5 million
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Maturity: | Oct. 26, 2022
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Coupon: | 6.25%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
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Initial share prices: | $42.54 for Wells Fargo, $54.17 for Coca-Cola and $198.30 for 3M
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Downside thresholds: | $27.651 for Wells Fargo, $35.211 for Coca-Cola and $128.895 for 3M; 65% of initial levels
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Pricing date: | April 21
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Settlement date: | April 26
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | 0.3%
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Cusip: | 61771VWM8
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