New York, Feb. 7 – Morgan Stanley Finance LLC priced $6 million of contingent income autocallable securities due Feb. 6, 2025 linked to Wells Fargo & Co., Goldman Sachs Group, Inc. and JPMorgan Chase & Co. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.9%, paid quarterly, if each underlying stock closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Aug. 2, 2022 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 65% 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
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Guarantor: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying stocks: | Wells Fargo & Co., Goldman Sachs Group, Inc. and JPMorgan Chase & Co.
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Amount: | $6 million
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Maturity: | Feb. 6, 2025
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Coupon: | 13.9%, paid quarterly, if each underlying stock closes at or above its 75% coupon barrier on the related quarterly observation date
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Price: | Par of $10
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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
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Call: | Automatically starting Aug. 2, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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Initial levels: | $364.06 for Goldman Sachs, $151.15 for JPMorgan, $55.60 for Wells Fargo
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Downside thresholds: | $236.639 for Goldman Sachs, $98.248 for JPMorgan, $36.14 for Wells Fargo; 65% of initial levels
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Coupon barrier: | $273.045 for Goldman Sachs, $113.363 for JPMorgan, $41.70 for Wells Fargo; 75% of the initial levels
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Pricing date: | Feb. 2
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Settlement date: | Feb. 7
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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: | 61773U407
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