By William Gullotti
Buffalo, N.Y., June 1 – Morgan Stanley Finance LLC priced $1.23 million of contingent income autocallable securities due Nov. 3, 2022 linked to ViacomCBS Inc. class B common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the underlying stock closes at or above its 60% coupon threshold on any related observation date.
If the underlying stock closes at or above 90% of initial price on any of the monthly determination dates after three months, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the 55% downside threshold level, the payout at maturity will be par plus any contingent coupon.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | ViacomCBS Inc.
|
| Amount: | $1,225,000
|
| Maturity: | Nov. 3, 2022
|
| Coupon: | 8% annualized, payable monthly if each stock closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above 90% of initial share price on any monthly determination date after three months
|
| Initial share price: | $41.02
|
| Call threshold: | $36.918; 90% of initial price
|
| Coupon threshold: | $24.612; 60% of initial price
|
| Downside threshold: | $22.561; 55% of initial price
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.85%
|
| Cusip: | 61771VD56
|
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