By Kiku Steinfeld
Chicago, Dec. 13 – Morgan Stanley Finance LLC priced $364,000 of 9% fixed-coupon autocallable securities due Aug. 24, 2023 linked to the shares of Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
After six months, the notes will be called at par if the stock closes at or above its initial level on any quarterly determination date other than the final one.
If the stock’s final level is at least 60% of its initial level, the payout at maturity will be par plus the coupon.
If the stock finishes below 60% of its initial level, investors will be fully exposed to the decline.
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: | Fixed-coupon autocallable securities
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| Underlying stock: | Roku, Inc.
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| Amount: | $364,000
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| Maturity: | Aug. 24, 2023
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| Coupon: | 9%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its downside threshold level, in which case full exposure to decline
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| Call: | After six months, automatically at par plus coupon if stock closes at above its initial level on any quarterly determination date other than final one
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| Initial level: | $351.20
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| Downside threshold: | $210.72, 60% of initial price
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61773FQK2
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