New York, June 27 – Morgan Stanley Finance LLC priced $2.85 million of contingent income autocallable securities due June 26, 2025 linked to the Energy Select Sector SPDR Fund and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.05%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date starting Dec. 21, 2022.
At maturity, the payout will be par unless the worst performing ETF finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing ETF.
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: | $2.85 million
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| Maturity: | June 26, 2025
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| Coupon: | 12.05%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date starting Dec. 21, 2022
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| Initial levels: | $76.44 for Energy Select Sector SPDR Fund, $31.38 for Financial Select Sector SPDR Fund
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| Downside thresholds: | $53.508 for Energy Select Sector SPDR Fund, $21.966 for Financial Select Sector SPDR Fund, 70% of initial level
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| Strike date: | June 21
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61774DTK3
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