By William Gullotti
Buffalo, N.Y., Oct. 5 – Morgan Stanley Finance LLC priced $2.5 million of 9.3% worst-of fixed coupon autocallable RevCons due July 24, 2023 linked to the worst performing of the shares of Uber Technologies, Inc. and Wynn Resorts, Ltd., 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 closes at or above its initial level on a quarterly determination date after six months, the notes will be automatically called at par plus the fixed coupon.
If each stock finishes at or above the 55% 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 autocallable RevCons
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| Underlying stocks: | Uber Technologies, Inc., Wynn Resorts, Ltd.
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| Amount: | $2.5 million
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| Maturity: | July 24, 2023
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| Coupon: | 9.3%, 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 from its initial share price
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| Call: | Automatically at par plus the fixed coupon if each stock closes at or above its initial level on any quarterly review date after six months
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| Initial share prices: | $45.56 for Uber, $104.74 for Wynn
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| Downside thresholds: | $25.058 for Uber, $57.607 for Wynn; 55% of initial levels
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.9%
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| Cusip: | 61773FHE6
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