New York, April 8 – Morgan Stanley Finance LLC priced $598,000 of contingent income autocallable securities due April 4, 2024 linked to 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 11.25%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 30 at par if the 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 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: | Energy Select Sector SPDR Fund and Financial Select Sector SPDR Fund
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| Amount: | $598,000
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| Maturity: | April 4, 2024
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| Coupon: | 11.25%, paid quarterly, if each underlying fund closes at or above its 70% 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 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 June 30 at par if the 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: | $76.44 for Energy Select Sector SPDR Fund, $38.32 for Financial Select Sector SPDR Fund
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| Downside thresholds: | $53.508 for Energy Select Sector SPDR Fund, $26.824 for Financial Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61773QJH3
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