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Published on 11/25/2020 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $2.41 million contingent income autocallables on Zoom

By Taylor Fox

New York, Nov. 25 – Morgan Stanley Finance LLC sold $2.41 million of contingent income autocallable securities due May 23, 2022 tied to common stock of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 15.2% per year if the stock closes at or above its coupon threshold level, 60% of its initial level, on the related determination date.

The notes will be automatically called at par plus the coupon if the stock closes at or above 80% of its initial level on any monthly redemption determination date beginning Feb. 23, 2021.

The payout at maturity will be par plus any coupon unless the stock finishes below its 50% downside threshold, in which case investors will be fully exposed to the performance of the stock.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Contingent income autocallable securities
Underlying stock:Zoom Video Communications, Inc.
Amount:$2,408,000
Maturity:May 23, 2022
Coupon:15.2% per year, payable each month if each stock closes at or above its coupon threshold level on the related determination date
Price:Par
Payout at maturity:Par plus the coupon unless the stock finishes below its downside threshold, in which case investors will be fully exposed to the performance of the stock
Call:Automatically at par plus coupon if the stock closes at or above 80% of its initial level on any monthly redemption determination date beginning Feb. 23, 2021
Initial level:$415.04
Call threshold level:$332.032, 80% of initial level
Coupon threshold:$249.024; 60% of initial level
Downside threshold level:$207.52; 50% of initial level
Pricing date:Nov. 18
Settlement date:Nov. 23
Agent:Morgan Stanley & Co. LLC
Fees:2.5%
Cusip:61771EKW7

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