New York, March 10 – Morgan Stanley Finance LLC priced $1.1 million of contingent income autocallable securities due March 11, 2026 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid quarterly, if the underlying fund closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date starting Sept. 11, 2023.
At maturity, the payout will be par unless the ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the ETF.
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 ETF: | Energy Select Sector SPDR Fund
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Amount: | $1.1 million
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Maturity: | March 11, 2026
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Coupon: | 13%, paid quarterly, if the underlying fund closes at or above its 70% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the ETF
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Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date starting Sept. 11, 2023
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Initial level: | $87.30
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Downside threshold: | $52.38, 60% of initial level
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Coupon barrier: | $61.11, 70% of initial level
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Strike date: | March 6
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Pricing date: | March 7
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Settlement date: | March 10
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61774T6T4
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