By William Gullotti
Buffalo, N.Y., Sept. 8 – Morgan Stanley Finance LLC priced $5.15 million of contingent income autocallable securities due Aug. 31, 2023 linked to the stock performance of Airbnb, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if the underlying stock closes at or above its 69% coupon threshold on any quarterly observation date.
If underlying stock closes at or above its initial price on any quarterly determination date, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the 69% downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The securities are guaranteed by Morgan Stanley.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying index: | Airbnb, Inc.
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| Amount: | $5,145,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 15% annualized, payable quarterly if the stock closes at or above coupon threshold on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | Automatically at par plus contingent payment if underlying stock closes at or above initial share price on any determination date
|
| Initial share price: | $154.18
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| Coupon threshold: | $106.384; 69% of initial price
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| Downside threshold: | $106.384; 69% of initial price
|
| Pricing date: | Aug. 27
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| Settlement date: | Sept. 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61773FUY7
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