By Kiku Steinfeld
Chicago, March 11 - Morgan Stanley Finance LLC priced $540,000 of phoenix autocallable notes due March 15, 2022 linked to the common stocks of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the 80% barrier level on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 16.36% for that quarter, in which case any previously unpaid coupons will be paid.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above the 80% trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to losses.
The notes are guaranteed by Morgan Stanley.
The agent is Morgan Stanley & Co. LLC. J.P Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | salesforce.com, inc.
|
| Amount: | $540,000
|
| Maturity: | March 15, 2022
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| Coupon: | 16.36% per year, payable quarterly plus any previously unpaid coupons if stock closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if the shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if the shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $240.47
|
| Barrier/trigger price: | $192.376, 80% of initial share price
|
| Final share price: | Average of closing share prices on five trading days ending March 10, 2022
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| Pricing date: | Feb. 24
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| Settlement date: | March 1
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| Agent: | Morgan Stanley & Co. LLC with J.P Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 1%
|
| Cusip: | 61771VDR8
|
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