diff --git a/lib/Sema/TypeCheckStorage.cpp b/lib/Sema/TypeCheckStorage.cpp
index a726f994bb171..26e20612d2de1 100644
--- a/lib/Sema/TypeCheckStorage.cpp
+++ b/lib/Sema/TypeCheckStorage.cpp
@@ -2689,7 +2689,8 @@ static VarDecl *synthesizePropertyWrapperProjectionVar(
 }
 
 static void typeCheckSynthesizedWrapperInitializer(VarDecl *wrappedVar,
-                                                   Expr *&initializer) {
+                                                   Expr *&initializer,
+                                                   bool contextualize) {
   auto *dc = wrappedVar->getInnermostDeclContext();
   auto &ctx = wrappedVar->getASTContext();
   auto *initContext = new (ctx) PropertyWrapperInitializer(
@@ -2705,6 +2706,11 @@ static void typeCheckSynthesizedWrapperInitializer(VarDecl *wrappedVar,
 
   initializer = result->getAsExpr();
 
+  // Contextualize the initializer which is a local variable with defaultInit or
+  // gets an independent initializer. The rest of initializer contextualizing
+  // will be done in visitPatternBindingDecl.
+  if (!contextualize)
+    return;
   TypeChecker::contextualizeInitializer(initContext, initializer);
   checkPropertyWrapperActorIsolation(wrappedVar, initializer);
   TypeChecker::checkInitializerEffects(initContext, initializer);
@@ -2979,7 +2985,8 @@ PropertyWrapperInitializerInfoRequest::evaluate(Evaluator &evaluator,
         && !wrapperInfo.defaultInit) {
       auto ty = parentPBD->getPattern(patternNumber)->getType();
       if (auto defaultInit = TypeChecker::buildDefaultInitializer(ty)) {
-        typeCheckSynthesizedWrapperInitializer(var, defaultInit);
+        typeCheckSynthesizedWrapperInitializer(var, defaultInit,
+                                               /*contextualize=*/false);
         parentPBD->setInit(0, defaultInit);
         parentPBD->setInitializerChecked(0);
       }
@@ -2997,7 +3004,9 @@ PropertyWrapperInitializerInfoRequest::evaluate(Evaluator &evaluator,
         // FIXME: Record this expression somewhere so that DI can perform the
         // initialization itself.
         Expr *defaultInit = nullptr;
-        typeCheckSynthesizedWrapperInitializer(var, defaultInit);
+        // Only contextualize local wrapped property, the rest of wrapped
+        // property will be contextualized in visitPatternBindingDecl.
+        typeCheckSynthesizedWrapperInitializer(var, defaultInit, dc->isLocalContext());
         pbd->setInit(0, defaultInit);
         pbd->setInitializerChecked(0);
 
@@ -3067,7 +3076,8 @@ PropertyWrapperInitializerInfoRequest::evaluate(Evaluator &evaluator,
              !var->getName().hasDollarPrefix()) {
     wrappedValueInit = PropertyWrapperValuePlaceholderExpr::create(
         ctx, var->getSourceRange(), var->getType(), /*wrappedValue=*/nullptr);
-    typeCheckSynthesizedWrapperInitializer(var, wrappedValueInit);
+    typeCheckSynthesizedWrapperInitializer(var, wrappedValueInit,
+                                           /*contextualize=*/true);
   }
 
   return PropertyWrapperInitializerInfo(wrappedValueInit, projectedValueInit);
diff --git a/test/Concurrency/global_actor_inference.swift b/test/Concurrency/global_actor_inference.swift
index d29268a8d06be..9fbe0dc0dfc11 100644
--- a/test/Concurrency/global_actor_inference.swift
+++ b/test/Concurrency/global_actor_inference.swift
@@ -415,12 +415,13 @@ actor WrapperActorBad2<Wrapped: Sendable> {
 struct WrapperWithMainActorDefaultInit {
   var wrappedValue: Int { fatalError() }
 
-  @MainActor init() {} // expected-note {{calls to initializer 'init()' from outside of its actor context are implicitly asynchronous}}
+  @MainActor init() {} // expected-note 2 {{calls to initializer 'init()' from outside of its actor context are implicitly asynchronous}}
 }
 
 actor ActorWithWrapper {
   @WrapperOnActor var synced: Int = 0
   // expected-note@-1 3{{property declared here}}
+  @WrapperWithMainActorDefaultInit var property: Int // expected-error {{call to main actor-isolated initializer 'init()' in a synchronous actor-isolated context}}
   func f() {
     _ = synced // expected-error{{main actor-isolated property 'synced' can not be referenced on a different actor instance}}
     _ = $synced // expected-error{{global actor 'SomeGlobalActor'-isolated property '$synced' can not be referenced on a different actor instance}}
diff --git a/test/SILGen/property_wrappers.swift b/test/SILGen/property_wrappers.swift
index cc76e6378efef..b901d267ea7b8 100644
--- a/test/SILGen/property_wrappers.swift
+++ b/test/SILGen/property_wrappers.swift
@@ -957,6 +957,34 @@ struct TestAutoclosureComposition {
   @Once @ObservedObject var model = Model()
 }
 
+@propertyWrapper
+struct SR_15940Foo {
+  var wrappedValue: Int { 0 }
+}
+
+struct SR_15940_C {
+  func a() {
+    @SR_15940Foo var b: Int
+  }
+}
+
+// CHECK-LABEL: sil hidden [ossa] @$s17property_wrappers10SR_15940_CV1ayyF : $@convention(method) (SR_15940_C) -> () {
+// CHECK: bb0(%0 : $SR_15940_C):
+// CHECK-NEXT:  debug_value %0 : $SR_15940_C, let, name "self", argno 1, implicit
+// CHECK-NEXT:  [[BOX:%.*]] = alloc_box ${ var SR_15940Foo }, var, name "_b"
+// CHECK-NEXT:  [[LIFETIME:%.*]] = begin_borrow [lexical] [[BOX]] : ${ var SR_15940Foo }
+// CHECK-NEXT:  [[BOXADDR:%.*]] = project_box [[LIFETIME]] : ${ var SR_15940Foo }, 0
+// CHECK-NEXT:  [[METATYPE:%.*]] = metatype $@thin SR_15940Foo.Type
+// CHECK-NEXT:  // function_ref SR_15940Foo.init()
+// CHECK-NEXT:  [[DEFAULTVALUE_FN:%.*]] = function_ref @$s17property_wrappers11SR_15940FooVACycfC : $@convention(method) (@thin SR_15940Foo.Type) -> SR_15940Foo
+// CHECK-NEXT:  [[DEFAULTRESULT:%.*]] = apply [[DEFAULTVALUE_FN]]([[METATYPE]]) : $@convention(method) (@thin SR_15940Foo.Type) -> SR_15940Foo
+// CHECK-NEXT:  store [[DEFAULTRESULT]] to [trivial] [[BOXADDR]] : $*SR_15940Foo
+// CHECK-NEXT:  end_borrow [[LIFETIME]] : ${ var SR_15940Foo }
+// CHECK-NEXT:  destroy_value [[BOX]] : ${ var SR_15940Foo }
+// CHECK-NEXT:  [[TUPLE:%.*]] = tuple ()
+// CHECK-NEXT:  return [[TUPLE]] : $()
+// CHECK-NEXT:  } // end sil function '$s17property_wrappers10SR_15940_CV1ayyF
+
 // CHECK-LABEL: sil_vtable ClassUsingWrapper {
 // CHECK-NEXT:  #ClassUsingWrapper.x!getter: (ClassUsingWrapper) -> () -> Int : @$s17property_wrappers17ClassUsingWrapperC1xSivg   // ClassUsingWrapper.x.getter
 // CHECK-NEXT:  #ClassUsingWrapper.x!setter: (ClassUsingWrapper) -> (Int) -> () : @$s17property_wrappers17ClassUsingWrapperC1xSivs // ClassUsingWrapper.x.setter
diff --git a/test/Sema/property_wrappers.swift b/test/Sema/property_wrappers.swift
index dc2bf3fda765f..19cf5bdac0db5 100644
--- a/test/Sema/property_wrappers.swift
+++ b/test/Sema/property_wrappers.swift
@@ -47,3 +47,37 @@ struct TestInitSubscript {
   @Wrapper(wrappedValue: Color.allCases[0])
   var color: Color
 }
+
+@propertyWrapper
+public class SR_15940Bar<Value> {
+  private var _value: Value
+
+  public var wrappedValue: Value {
+    get { _value }
+    set {
+      _value = newValue
+    }
+  }
+
+  public init(wrappedValue value: @autoclosure @escaping () -> Value) {
+    self._value = value()
+  }
+}
+
+// CHECK-LABEL: struct_decl{{.*}}SR_15940_A
+struct SR_15940_A {
+  // CHECK:      argument_list implicit labels=wrappedValue:
+  // CHECK-NEXT:   argument label=wrappedValue
+  // CHECK-NEXT:     autoclosure_expr implicit type='() -> Bool?' discriminator=0 captures=(<opaque_value> ) escaping
+  // CHECK:            autoclosure_expr implicit type='() -> Bool?' discriminator=1 escaping
+  @SR_15940Bar var a: Bool?
+}
+
+// CHECK-LABEL: struct_decl{{.*}}SR_15940_B
+struct SR_15940_B {
+  // CHECK:      argument_list implicit labels=wrappedValue:
+  // CHECK-NEXT:   argument label=wrappedValue
+  // CHECK-NEXT:     autoclosure_expr implicit type='() -> Bool' location={{.*}}.swift:[[@LINE+2]]:30 range=[{{.+}}] discriminator=0 captures=(<opaque_value> ) escaping
+  // CHECK:            autoclosure_expr implicit type='() -> Bool' location={{.*}}.swift:[[@LINE+1]]:30 range=[{{.+}}] discriminator=1 escaping
+  @SR_15940Bar var b: Bool = false
+}