By Kiku Steinfeld
Chicago, Sept. 9 – Morgan Stanley Finance LLC priced $250,000 of contingent income buffered autocallable securities due Jan. 29, 2026 linked to VanEck Vectors Gold Miners ETF and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly, if each underlying fund closes at or above its 85% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 31, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing fund declines by more than its 15% buffer, in which case investors will be exposed to the decline of the worst performing fund beyond the buffer.
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 buffered autocallable securities
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and Financial Select Sector SPDR Fund
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| Amount: | $250,000
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| Maturity: | Jan. 29, 2026
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| Coupon: | 9.5%, paid monthly, if each underlying fund closes at or above its 85% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the worst performing fund declines by no more than its 15% buffer; otherwise, investors will be exposed to the decline in the worst performing fund beyond the buffer
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| Call: | Automatically starting Jan. 31, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $30.63 for Gold, $38.57 for Financial
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| Coupon barriers: | $26.036 for Gold, $32.785 for Financial, 85% of initial levels
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| Buffer levels: | $26.036 for Gold, $32.785 for Financial, 85% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61773HXJ3
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