Chicago, May 3 – Morgan Stanley Finance LLC priced $1.25 million of contingent income autocallable securities due May 1, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if the underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically starting May 1, 2024 at par if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the index closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the index.
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 index: | S&P 500 index
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| Amount: | $1.25 million
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| Maturity: | May 1, 2028
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| Coupon: | 8% annual rate, paid quarterly, if the underlying index closes at or above its 75% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the index closes below its downside threshold level in which case investors will be fully exposed to the decline in the index
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| Call: | Automatically starting May 1, 2024 at par if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial level: | 4,055.99
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| Downside threshold: | 3,041.993, 75% of initial level
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| Pricing date: | April 26
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| Settlement date: | April 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.35%
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| Cusip: | 61774XWE9
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