By Devika Patel
Knoxville, Tenn., Jan. 2 – Morgan Stanley Finance LLC priced $12,820,970 of contingent income autocallable securities due Dec. 23, 2022 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 8.45% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above the initial price on any quarterly determination date from March 20, 2020 to Sept. 20, 2022, inclusive.
The payout at maturity will be par plus the final coupon unless the shares finish below the 80% downside threshold level, in which case investors will lose 1% for each 1% decline from the initial price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
|
| Amount: | $12,820,970
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| Maturity: | Dec. 23, 2022
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| Coupon: | 8.45% per year, payable quarterly if JPMorgan shares close at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if JPMorgan shares close at or above initial share price on any quarterly determination dates from March 20, 2020 to Sept. 20, 2022, inclusive
|
| Initial share price: | $137.24
|
| Downside threshold: | $109.792, 80% of initial share price
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61770E497
|
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