New York, Jan. 4 – Morgan Stanley Finance LLC priced $3.3 million of contingent income autocallable securities due Dec. 26, 2025 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.1%, paid quarterly, if the underlying fund closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing price of the 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 ETF finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the 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 ETF: | Financial Select Sector SPDR Fund
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| Amount: | $3.3 million
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| Maturity: | Dec. 26, 2025
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| Coupon: | 8.1%, paid quarterly, if the 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 ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the ETF
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| Call: | Automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly call determination date
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| Initial level: | $34.06
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| Downside threshold: | $23.842, 70% of initial level
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61774TGA4
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