New York, May 23 – Morgan Stanley Finance LLC priced $485,000 of jump securities with autocallable feature due Oct. 31, 2024 linked to the Financial Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting April 26, 2022 at a price to give a return of 13% per year 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 plus 39% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing ETF declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing ETF from its initial level.
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: | Jump securities with autocallable feature
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| Underlying ETFs: | Financial Select Sector SPDR Fund and Energy Select Sector SPDR Fund
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| Amount: | $485,000
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| Maturity: | Oct. 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 39% if worst performing ETF finishes at or above its initial level; par if worst performing ETF declines but finishes at or above its 70% trigger level; otherwise, full exposure to decline of worst performing ETF
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| Call: | Automatically, starting April 26, 2022 on any quarterly call determination date, at a price to give a return of 13% per year if the price of each underlying fund is greater than or equal to its initial price
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| Initial levels: | $59.14 for Energy Select Sector SPDR Fund, $40.60 for Financial Select Sector SPDR Fund
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| Downside thresholds: | $41.398 for Energy Select Sector SPDR Fund, $28.42 for Financial Select Sector SPDR Fund, 70% of initial level
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.35%
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| Cusip: | 61773FW33
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