By Kiku Steinfeld
Chicago, Aug. 31 – Morgan Stanley Finance LLC priced $805,000 of callable contingent income securities due July 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Every quarter, the notes will pay a contingent coupon at the rate of 4% per year if the index closes at or above its coupon barrier level, 75% of its initial level, on the observation date that period.
If the index finishes at or above its barrier level, 65% of its initial level, the payout at maturity will be par plus the final coupon, if any.
If the index finishes below its barrier level, investors will lose 1% for every 1% decline from the initial level.
The notes will be callable at par on any quarterly coupon payment date.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying index: | S&P 500
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| Amount: | $805,000
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| Maturity: | July 5, 2024
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| Coupon: | 4% per year, payable every quarter if index closes at or above its coupon barrier level on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par if index finishes at or above barrier level; if index finishes below barrier level, 1% for every 1% decline
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| Call option: | At par on any quarterly call date
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| Initial level: | 4,297.50
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| Coupon barrier: | 3,223.125; 75% of initial level
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| Final barrier: | 2,793.375, 65% of initial level
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Morgan Stanley & Co. LLC
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.5%
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| Cusip: | 61773FBA0
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