New York, Nov. 1 – Morgan Stanley Finance LLC priced $4.35 million of contingent income autocallable securities due March 28, 2024 linked to the worst performing of the Dow Jones industrial average, Energy Select Sector SPDR fund and Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.15%, paid quarterly, if each underlier closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Sept. 30 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless each asset closes below its 75% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Dow Jones industrial average, Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
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| Amount: | $4.35 million
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| Maturity: | March 28, 2024
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| Coupon: | 10.15% annual rate, paid quarterly, if each underlier closes at or above its 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 asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlier
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| Call: | Automatically starting Sept. 30 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | 32,619.48 for Dow, $49.21 for Energy, $33.84 for Financial
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| Downside threshold levels: | 24,464.61 for Dow, $36.908 for Energy, $25.38 for Financial, 75% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61771VNY2
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