By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Morgan Stanley Finance LLC priced $3.88 million of contingent income autocallable securities due Oct. 4, 2024 linked to the performance of the Industrial Select Sector SPDR fund, the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filed with the Securities and Exchange Commission.
The securities are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 10.15% if each underlier closes at or above its 70% coupon barrier on the corresponding observation date.
The notes will be called at par plus coupon if each underlier closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above the coupon barrier.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Issue: | Contingent income autocallable securities
|
| Guarantor: | Morgan Stanley
|
| Underlying assets: | Industrial Select Sector SPDR fund, Energy Select Sector SPDR fund,Financial Select Sector SPDR fund
|
| Amount: | $3,880,340
|
| Maturity: | Oct. 4, 2024
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| Coupon: | 10.15% annualized, payable quarterly if each underlier closes at or above coupon barrier on review date on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above coupon barrier, par plus final coupon; otherwise, 1% loss for each 1% decline of worst performing underlier from its initial level
|
| Call: | At par plus coupon if each underlier closes at or above its initial level on any quarterly call date
|
| Initial levels: | $38.15 for Financial, $99.18 for Industrial, $53.84 for Energy
|
| Coupon barrier levels: | $26.705 for Financial, $69.426 for Industrial, $37.688 for Energy; 70% of initial levels
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 6
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61773E775
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