By Taylor Fox
New York, March 18 – Morgan Stanley Finance LLC priced $1.23 million of contingent income autocallable securities due Dec. 10, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each quarter, the notes will pay a contingent coupon at the rate of 5.15% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call determination date after one year.
The payout at maturity will be par plus any coupon due unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $1,230,000
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| Maturity: | Dec. 10, 2025
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| Coupon: | 5.15% per year, payable quarterly if each index closes at or above barrier level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly call determination date after one year
|
| Initial index levels: | 3,841.94 for S&P and 2,192.212 for Russell
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| Coupon barrier levels: | 2,689.358 for S&P and 1,534.548 for Russell; 70% of initial levels
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| Downside threshold levels: | 2,689.358 for S&P and 1,534.548 for Russell; 70% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.25%
|
| Cusip: | 61771VGK0
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