New York, June 30 – Morgan Stanley Finance LLC priced $1.29 million of contingent income buffered autocallable securities due June 27, 2025 linked to the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each ETF finishes at or above its initial level on any monthly call determination date starting June 29, 2023.
At maturity, the payout will be par unless worst performing fund declines by more than 20%, in which case investors will be exposed to the decline of the worst performer 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 ETF: | iShares Silver Trust and VanEck Vectors Gold Miners ETF
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| Amount: | $1,288,000
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| Maturity: | June 27, 2025
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| Coupon: | 10%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the laggard fund finishes at or above coupon barrier, otherwise investors will lose 1% for every 1% decline of the worst performer below 20%
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| Call: | Automatically at par if each ETF finishes at or above its initial level on any monthly call determination date starting June 29, 2023
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| Initial level: | $19.51 for iShares, $29.66 for VanEck
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| Buffer: | 20%
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| Coupon barrier: | $15.608 for iShares, $23.728 for VanEck, 80% of initial level
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61774DNR4
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