New York, July 31 – Morgan Stanley Finance LLC priced $694,000 of contingent income autocallable securities due July 30, 2026 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Jan. 30, 2024 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the stock closes below its 70% 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
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Guarantor: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying stock: | Apple Inc.
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Amount: | $694,000
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Maturity: | July 30, 2026
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Coupon: | 7.5%, paid quarterly, if the underlying stock closes at or above its 70% 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 Jan. 30, 2024 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
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Initial level: | $193.62
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Downside threshold: | $135.534, 70% of initial level
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Pricing date: | July 25
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Settlement date: | July 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61775HMC8
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