By William Gullotti
Buffalo, N.Y., June 25 – Morgan Stanley Finance LLC priced $1.4 million of callable contingent income buffered securities due May 14, 2026 linked to the least performing of the Nasdaq-100 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 month, the notes will pay a contingent coupon at the rate of 5.4% per year if each index closes at or above its coupon barrier level, 85% of its initial level, on the observation date that month.
After one year, the notes may be called at par on any quarterly date.
If each index finishes at or above its buffer level, 85% of its initial level, the payout at maturity will be par plus the final coupon.
If any index finishes below its downside threshold, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income buffered securities
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| Underlying indexes: | Russell 2000, Nasdaq-100
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| Amount: | $1,400,000
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| Maturity: | May 14, 2026
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| Coupon: | 5.4% per year, payable monthly if each index closes at or above coupon barrier level on observation date that month
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above downside threshold; if any index finishes below buffer level, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%
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| Call option: | After one year, at par on any quarterly date
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| Initial levels: | 13,359.08 for Nasdaq, 2,212.696 for Russell
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| Coupon barrier/buffers: | 11,355.218 for Nasdaq, 1,880.792 for Russell; 85% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 61771VM23
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