Chicago, Sept. 21 – Morgan Stanley Finance LLC priced $1 million of worst-of fixed-coupon RevCons due Jan. 31, 2024 linked to the worst performing of the common stocks of Costco Wholesale Corp., NextEra Energy, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly.
If the worst performing stock gains or declines but ends above the 65% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below the downside threshold level.
The notes are non-callable.
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: | Worst-of fixed-coupon RevCons
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| Underlying stocks: | Costco Wholesale Corp., NextEra Energy, Inc. and JPMorgan Chase & Co.
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| Amount: | $1 million
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| Maturity: | Jan. 31, 2024
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| Coupon: | 9.5%, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Initial levels: | $483.47 for Costco, $147.92 for JPMorgan, $72.64 for NextEra
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| Downside thresholds: | $314.256 for Costco, $96.148 for JPMorgan, $47.216 for NextEra, 65% of initial levels
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| Call: | Non-callable
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61773HX38
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