New York, June 22 – Morgan Stanley Finance LLC priced $1.19 million of contingent income autocallable securities due July 20, 2023 linked to the class A common stock of Lennar Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid monthly, if the underlying stock closes at or above its 68% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any monthly call determination date starting Dec. 20, 2022.
At maturity, the payout will be par unless the stock finishes below its 68% downside threshold level, 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Lennar Corp.
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| Amount: | $1,194,000
|
| Maturity: | July 20, 2023
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| Coupon: | 15%, paid monthly, if the underlying stock closes at or above its 68% downside threshold on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any monthly call determination date starting Dec. 20, 2022
|
| Initial level: | $68.97
|
| Downside threshold: | $46.900, 68% of initial level
|
| Pricing date: | June 15
|
| Settlement date: | June 21
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61774DNQ6
|
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