By Kiku Steinfeld
Chicago, July 28 – Morgan Stanley Finance LLC priced $450,000 of contingent income autocallable securities due Feb. 21, 2025 linked to the common stocks of Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.46%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date, plus any previously unpaid coupons. Previously unpaid coupons will also be paid.
The securities will be called automatically at par if the price of each 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 worst performing stock closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the worst performing 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 stocks: | Amazon.com, Inc. and Apple Inc.
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Amount: | $450,000
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Maturity: | Feb. 21, 2025
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Coupon: | 12.46%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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Initial levels: | $152.55 for Apple, $97.20 for Amazon.com
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Downside thresholds: | $91.53 for Apple, $58.32 for Amazon.com, 60% of initial level
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Pricing date: | Feb. 21, 2023
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Settlement date: | Feb. 24, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61774TR61
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