New York, May 12 – Morgan Stanley Finance LLC priced $950,000 of contingent income autocallable securities due Oct. 11, 2022 linked to the lesser performing of the common stock of Moderna, Inc. and the American depositary shares of BioNTech SE, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 32%, paid quarterly, if each underlying stock closes at or above its 65% downside threshold on the related quarterly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The securities will be called automatically starting Jan. 10, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Moderna, Inc. and BioNTech SE
|
| Amount: | $950,000
|
| Maturity: | Oct. 11, 2022
|
| Coupon: | 32%, paid quarterly, if each underlying stock closes at or above its 65% downside threshold on the related quarterly observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
|
| Call: | Automatically starting Jan. 10, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
|
| Initial levels: | $341.09 for Moderna, $254.79 for BioNTech
|
| Downside thresholds: | $221.709 for Moderna, $165.614 for BioNTech; 65% of initial levels
|
| Strike date: | Oct. 1, 2021
|
| Pricing date: | Oct. 4, 2021
|
| Settlement date: | Oct. 12, 2021
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61773FV83
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
