By Sarah Lizee
Olympia, Wash., July 21 – Morgan Stanley Finance LLC priced $1.25 million of contingent income autocallable securities due July 20, 2023 linked to the common stock of CrowdStrike Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if the underlying stock closes at or above its 50% downside threshold on the determination date that quarter, in which case the notes will also pay any previously unpaid coupons.
The notes will be called at par of $10 if the stock closes at or above its initial level on any quarterly determination date after six 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.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | CrowdStrike Holdings, Inc.
|
| Amount: | $1,248,000
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| Maturity: | July 20, 2023
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| Coupon: | 12.5% annualized, payable quarterly if stock closes at or above downside threshold on determination date for that quarter, plus previously unpaid coupons
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above initial level on any quarterly determination date after six months
|
| Initial price: | $101.43
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| Downside threshold: | $50.715, 50% of initial price
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| Pricing date: | July 17
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| Settlement date: | July 22
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61771BVL5
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