New York, May 18 – Morgan Stanley Finance LLC priced $1.93 million of phoenix autocallable securities due Nov. 9 linked to Snap Inc. class A common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annaulized coupon of 20.5% if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Feb. 9, 2022 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent determination date.
At maturity the payout will be par unless the stock closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Snap Inc.
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| Amount: | $1,934,000
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| Maturity: | Nov. 9
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| Coupon: | 20.5% if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying stock
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| Call: | Automatically starting Feb. 9, 2022 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent determination date
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| Initial level: | $55.14
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| Downside threshold: | $38.598, 70% of initial level
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| Pricing date: | Oct. 25, 2021
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| Settlement date: | Oct. 28, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 61773F8C0
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