New York, April 19 – Morgan Stanley Finance LLC priced $10 million of contingent income buffered autocallable securities due April 19, 2024 linked to the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.2504%, paid monthly, if the ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting May 12 at par if the price of the ETF is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the ETF declines by more than its 15% buffer in which case investors will lose 1.1765% for each 1% decline beyond 15%.
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 buffered autocallable securities
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| Underlying ETF: | Invesco QQQ Trust, Series 1
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| Amount: | $10 million
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| Maturity: | April 19, 2024
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| Coupon: | 13.2504%, paid monthly, if ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if the worst performing stock gains or loses no more than its 15% buffer, otherwise investors will lose 1.1765% for each 1% decline beyond 15%
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| Call: | Automatically starting May 12 at par if the price of the ETF is greater than or equal to its initial price on any monthly call determination date
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| Initial level: | $313.04
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| Buffer level: | $266.084, 85% of initial level
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 61774XQQ9
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