By Taylor Fox
New York, Oct. 26 – Morgan Stanley Finance LLC sold $15.12 million of contingent income autocallable securities due March 30, 2021 tied to common stock of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 19.25% per year if each stock closes at or above its coupon threshold level, 55% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly redemption determination date.
The payout at maturity will be par plus the coupon unless any stock finishes below its 55% downside threshold, in which case investors will be fully exposed to the performance of the least performing stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Zoom Video Communications, Inc.
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| Amount: | $15,118,670
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| Maturity: | March 30, 2021
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| Coupon: | 19.25% per year, payable each month if each stock closes at or above its coupon threshold level on the related determination date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below its downside threshold, in which case investors will be fully exposed to the performance of the least performing stock
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly redemption determination date
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| Initial levels: | $496.5
|
| Coupon thresholds: | $273.075; 55% of initial levels
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| Downside threshold levels: | $273.075; 55% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.25%
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| Cusip: | 61771D456
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