By William Gullotti
Buffalo, N.Y., April 4 – Morgan Stanley Finance LLC priced $3.13 million of contingent income autocallable securities due June 9, 2022 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if the underlying stock closes at or above its 69% coupon barrier on the observation date for that month.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the coupon unless the underlying stock finishes below its 69% downside threshold, in which case investors will be fully exposed to any losses.
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: | Wynn Resorts, Ltd.
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Amount: | $3,132,000
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Maturity: | June 9, 2022
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Coupon: | 10% annualized, payable monthly if stock closes at or above coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | If the stock finishes at or above downside threshold, par plus coupon; otherwise, 1% loss for each 1% decline from initial level
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Call: | At par plus coupon if the stock closes at or above its initial level on any monthly call date after six months
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Initial level: | $127.81
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Coupon barrier level: | $88.189; 69% of initial levels
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Downside threshold: | $88.189; 69% of initial levels
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Pricing date: | May 5, 2021
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Settlement date: | May 10, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.5%
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Cusip: | 61771VZV5
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