By Taylor Fox
New York, Jan. 25 – Morgan Stanley Finance LLC priced $1.1 million of contingent income autocallable securities due June 28, 2022 linked to the common stock of Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at an annual rate of 9.5% if the stock closes at or above its coupon barrier, 60% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes above 80% of its initial level on any monthly redemption date after three months.
The payout at maturity will be par unless the stock finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Roku, Inc.
|
| Amount: | $1,100,000
|
| Maturity: | June 28, 2022
|
| Coupon: | 9.5% per year, payable each month that stock closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par; otherwise, full exposure to stock’s decline
|
| Call: | Par plus the contingent coupon if the stock closes above 80% of its initial level on any monthly redemption date after three months
|
| Initial share price: | $360.56
|
| Call threshold level: | $288.448, 80% of initial share price
|
| Coupon threshold level: | $216.336, 60% of initial share price
|
| Downside threshold level: | $180.28, 50% of initial share price
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.85%
|
| Cusip: | 61771EVR6
|
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