Kiku Steinfeld
Chicago, Feb. 18 – Morgan Stanley Finance LLC priced $1.53 million of contingent income autocallable securities due Sept. 6, 2024 linked to Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid semi-annually, if each underlying fund closes at or above its 70% downside threshold on the related semiannual observation date.
The securities will be called automatically starting Sept. 6, 2022 at par if the price of each underlying fund is greater than or equal to its initial price on any semiannual determination date.
At maturity the payout will be par unless the worst performing fund closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the worst performing fund.
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: | Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and SPDR S&P Biotech ETF
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| Amount: | $1,525,000
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| Maturity: | Sept. 6, 2024
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| Coupon: | 12%, paid semiannually, if each underlying fund closes at or above its 70% downside threshold on the related semiannual observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
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| Call: | Automatically starting Sept. 6, 2022 at par if the price of each underlying fund is greater than or equal to its initial price on any semiannual determination date
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| Initial levels: | $134.19 for Biotech, $48.62 for Energy, $38.07 for Financial
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| Downside thresholds: | $93.933 for Biotech, $34.034 for Energy, $26.649 for Financial, 70% of initial levels
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| Pricing date: | Sept. 3
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| Settlement date: | Sept. 9
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61773FVY6
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