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Published on 5/5/2021 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley sells $600,000 of contingent income autocallable securities on Lowe’s

By William Gullotti

Buffalo N.Y., May 5 – Morgan Stanley Finance LLC sold $600,000 of contingent income autocallable securities due April 22, 2024 tied to the performance of the common stock of Lowe's Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Quarterly, the notes will pay a contingent coupon at the rate of 7.08% per year if the underlying stock is at or above its coupon threshold level, 80% of its initial level, on the related determination date.

The notes will be automatically redeemed early if the stock closes above its initial level on any quarterly redemption determination date after one year.

The payout at maturity will be par unless the underlying stock finishes below its 80% downside threshold, in which case investors will be fully exposed to the performance of the common stock.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Contingent income auto-callable securities
Underlying stock:Lowe's Cos., Inc.
Amount:$600,000
Maturity:April 22, 2024
Coupon:7.08% per year, payable quarterly if the underlying stock is at or above its coupon threshold level on the related determination date
Price:Par
Call:Automatically at par plus the coupon if stock closes above initial level on any quarterly determination date after one year
Payout at maturity:Par unless the underlying stock finishes below its downside threshold, in which case investors will be fully exposed to the performance of the underlying stock
Initial share price:$204.01
Coupon barrier level:$163.208; 80% of initial level
Downside threshold level:$163.208; 80% of initial level
Pricing date:April 19
Settlement date:April 21
Agent:Morgan Stanley & Co. LLC
Fees:2.85%
Cusip:61771VVQ0

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