By Taylor Fox
New York, Dec. 30 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due Dec. 5, 2022 linked to the worst performing of the common stocks of FedEx Corp., McKesson Corp. and Moderna, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes pay a contingent quarterly coupon at an annual rate of 16.88% if the shares of all stocks close at or above their 50% downside threshold levels on the observation date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly determination date after one year.
The payout at maturity will be par plus any coupons due unless any stock finishes below its 50% downside threshold level, in which case investors will lose 1% for each 1% decline from the initial price for the worst performer.
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 stocks: | FedEx Corp., McKesson Corp. and Moderna, Inc.
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Amount: | $250,000
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Maturity: | Dec. 5, 2022
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Coupon: | 16.88% per year, payable quarterly if least-performing stock closes at or above downside threshold on observation date for that period
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Price: | Par
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Payout at maturity: | If least-performing stock’s final share price is greater than or equal to downside threshold level, par plus any coupon due; otherwise, 1% loss for every 1% that least-performing stock’s final share price is less than initial share price
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Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly determination date after one year
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Initial share prices: | $286.58 for FedEx, $179.91 for McKesson and $152.74 for Moderna
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Downside thresholds: | $143.29 for FedEx, $89.955 for McKesson and $76.37 for Moderna, 50% of initial levels
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Pricing date: | Dec. 1
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Settlement date: | Dec. 4
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61771EQW1
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