New York, Dec. 6 – Morgan Stanley Finance LLC priced $13.54 million of contingent income auto-callable securities due Nov. 1, 2024 linked to Capital One Financial Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.55%, paid quarterly, if the underlying stock closes at or above its downside threshold on the related quarterly observation date.
The securities will be called automatically starting Jan. 31, 2022 and on any subsequent determination date at par if the price of the underlying stock is greater than or equal to its initial price.
At maturity the payout will be par unless the stock closes below its 75% downside threshold 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.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income auto-callable securities
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| Underlying stock: | Capital One Financial Corp.
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| Amount: | $13,536,840
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| Maturity: | Nov. 1, 2024
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| Coupon: | 8.55%, paid quarterly, if the underlying stock closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying stock
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| Call: | Automatically starting Jan. 31, 2022 and on any subsequent determination date at par if the price of the underlying stock is greater than or equal to its initial price
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| Initial level: | $151.03
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| Downside threshold: | $113.273, 75% of initial level
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5% including a structuring fee of 0.5%
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| Cusip: | 61773G374
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