Chicago, Nov. 28 – Morgan Stanley Finance LLC priced $5.06 million of phoenix autocallable securities due Nov. 27, 2026 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.6% if the underlying stock closes at or above its 80% downside threshold on the related quarterly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting Feb. 26, 2024 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 80% 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: | Amazon.com, Inc.
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| Amount: | $5,055,000
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| Maturity: | Nov. 27, 2026
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| Coupon: | 12.6% annual rate, if the underlying stock closes at or above its 80% downside threshold on the related quarterly observation date; previously unpaid coupons will also be paid
|
| 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
|
| Call: | Automatically starting Feb. 26, 2024 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: | $143.90
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| Downside threshold: | $115.12, 80% of initial level
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 27
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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: | 2%
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| Cusip: | 61775MZB5
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