By Sarah Lizee
Olympia, Wash., June 12 – Morgan Stanley Finance LLC priced $1.5 million of 9% worst-of fixed coupon RevCons due Dec. 12, 2022 linked to the worst performing of the shares of Caterpillar Inc. and Aflac Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock finishes at or above the 60% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Worst-of fixed coupon RevCons
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Underlying stocks: | Caterpillar Inc. and Aflac Inc.
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Amount: | $1.5 million
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Maturity: | Dec. 12, 2022
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
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Initial share prices: | $137.72 for Caterpillar, $42.10 for Aflac
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Downside thresholds: | $82.632 for Caterpillar, $25.26 for Aflac; 60% of initial levels
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Pricing date: | June 9
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Settlement date: | June 12
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61771BMQ4
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