By Wendy Van Sickle
Columbus, Ohio, May 5 – Morgan Stanley Finance LLC sold $10.15 million of contingent income auto-callable securities due May 3, 2024 tied to the performance of the common stock of Airbnb, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Quarterly, the notes will pay a contingent coupon at the rate of 11.55% per year if the underlying stock closes at or above its coupon threshold level, 65% of its initial level, on the related determination date.
The notes will be redeemed early at par if the stock closes above its initial level on any quarterly redemption determination date.
The payout at maturity will be par unless the underlying stock finishes below its 65% downside threshold, in which case investors will be fully exposed to the performance of the common stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Airbnb, Inc.
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| Amount: | $10,154,680
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| Maturity: | May 3, 2024
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| Coupon: | 11.55% per year, payable quarterly if the underlying stock is at or above its coupon threshold level on the related determination date
|
| Price: | Par of $10
|
| Call: | At par on any quarterly redemption determination date if stock finishes above its initial level
|
| Payout at maturity: | Par unless the underlying stock finishes below its downside threshold, in which case investors will be fully exposed to the performance of the underlying stock
|
| Initial share price: | $172.71
|
| Coupon barrier level: | $112.262; 65% of initial level
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| Downside threshold level: | $112.262; 65% of initial level
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| Pricing date: | April 30
|
| Settlement date: | May 5
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61772X402
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