By William Gullotti
Buffalo, N.Y., Feb. 10 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due April 24, 2023 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.15% if the underlying stock closes at or above its 70% downside threshold on any related observation date.
If the underlying stock closes at or above its initial price on any of the semiannual determination dates, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Apple Inc.
|
| Amount: | $500,000
|
| Maturity: | April 24, 2023
|
| Coupon: | 8.15% annualized, payable monthly if each stock closes at or above downside threshold on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any semiannual determination date
|
| Initial share price: | $134.43
|
| Downside threshold level: | $94.101; 70% of initial price
|
| Pricing date: | April 19, 2021
|
| Settlement date: | April 22, 2021
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.4%
|
| Cusip: | 61771VUT5
|
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