New York, June 16 – Morgan Stanley Finance LLC priced $1 million of phoenix autocallable securities due July 1, 2024 linked to the common stock of Snap Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 36.5% if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Sept. 29 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 65% 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. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Snap Inc.
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| Amount: | $1 million
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| Maturity: | July 1, 2024
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| Coupon: | 36.5% if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date
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| Price: | Par
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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 stock
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| Call: | Automatically starting Sept. 29 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial level: | $10.23
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| Downside threshold: | $6.650, 65% of initial level
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| Pricing date: | June 13
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| Settlement date: | June 16
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| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 61774X7F4
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