By William Gullotti
Buffalo, N.Y., Dec. 2 – Morgan Stanley Finance LLC priced $5.58 million of contingent income autocallable securities due Aug. 28, 2024 linked to an equally weighted basket of the common stocks of SoFi Technologies, Inc., Plug Power Inc., Upstart Holdings, Inc. and fuboTV Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 15% if the basket closes at or above the 70% coupon barrier on the observation date for that period.
The notes will be called at par plus the coupon if the basket closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the final coupon if the basket finishes at or above the coupon barrier.
If the basket finishes below the coupon barrier but at or above the 60% downside threshold, the payout at maturity will be par. Otherwise, investors will be fully exposed to basket decline.
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 stocks: | SoFi Technologies, Inc., Plug Power Inc., Upstart Holdings, Inc., fuboTV Inc.; equal weights
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| Amount: | $5,577,000
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| Maturity: | Aug. 28, 2024
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| Coupon: | 15% annualized, payable monthly if the basket closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes at or above coupon barrier, par plus final coupon; if the basket finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus coupon if the basket closes at or above its initial level on any monthly call date after six months
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| Initial levels: | $17.81 for SoFi, $42.27 for Plug, $197.36 for Upstart, $20.49 for fuboTV
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| Coupon barrier level: | 70% of initial levels
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| Downside threshold: | 60% of initial levels
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
|
| Cusip: | 61773HGL7
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