New York, April 21 – Morgan Stanley Finance LLC priced $3.18 million of contingent income autocallable securities due Oct. 17, 2024 linked to the Energy Select Sector SPDR Fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.1%, paid quarterly, if each underlying fund closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date.
At maturity, the payout will be par unless the worst performing ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing 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 ETFs: | Energy Select Sector SPDR Fund and SPDR S&P Biotech ETF
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| Amount: | $3,178,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 16.1%, paid quarterly, if each underlying fund closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $78.19 for SPDR S&P Biotech ETF, $87.23 for Energy Select Sector SPDR Fund
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| Downside thresholds: | $46.914 for SPDR S&P Biotech ETF, $52.338 for Energy Select Sector SPDR Fund, 60% of initial level
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.375%
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| Cusip: | 61774XPG2
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