By Marisa Wong
Morgantown, W.Va., June 13 – Morgan Stanley Finance LLC priced $500,000 of contingent income buffered autocallable securities due May 30, 2024 linked to the lesser performing of the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at the rate of 9.05% per year if each underlier closes at or above its coupon barrier, 75% of its initial level, on the determination date for that month.
After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless either underlier finishes below its 75% buffer level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 25%.
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 buffered autocallable securities
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| Underliers: | Euro Stoxx 50 index and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $500,000
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| Maturity: | May 30, 2024
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| Coupon: | 9.05% per year, payable each month that each underlier closes at or above buffer level on determination date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 25%
|
| Call: | After one year, automatically at par if each underlier closes at or above initial level on any monthly determination date
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| Initial levels: | 3,350.70 for index and $27.12 for ETF
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| Coupon barrier: | 2,513.025 for index and $20.34 for ETF; 75% of initial levels
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| Buffer levels: | 2,513.025 for index and $20.34 for ETF; 75% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61769HCS2
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