New York, April 5 – Morgan Stanley Finance LLC priced $2 million of phoenix autocallable securities due April 11, 2024 linked to the class A common stock of CrowdStrike Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 27.4% per year, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date.
At maturity, the payout will be par unless the stock finishes below its 70% downside threshold level, 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: | CrowdStrike Holdings, Inc.
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| Amount: | $2 million
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| Maturity: | April 11, 2024
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| Coupon: | 27.4% per year, paid quarterly if the underlying stock closes at or above its 70% downside threshold on the related observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date
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| Initial level: | $131.54
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| Downside threshold: | $92.078, 70% of initial level
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| Strike date: | March 24
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| Pricing date: | March 27
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| Settlement date: | March 30
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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: | 61774XHE6
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