New York, Jan. 26 – Morgan Stanley Finance LLC priced $1.52 million of contingent income autocallable securities due Jan. 24, 2025 linked to the worst performing of the SPDR Gold Trust, iShares Silver Trust and Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Jan. 25, 2023 at par on any quarterly call determination date if all three funds close above their initial levels.
At maturity the payout will be par unless any fund closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the fund.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying ETFs: | SPDR Gold Trust, iShares Silver Trust and Energy Select Sector SPDR Fund
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| Amount: | $1.52 million
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| Maturity: | Jan. 24, 2025
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| Coupon: | 11.75% annual rate, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst-performing fund
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| Call: | Automatically starting Jan. 25, 2023 at par on any quarterly call determination date if all three funds close above their initial levels
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| Initial levels: | $171.65 for gold, $22.62 for silver, $63.71 for energy
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| Downside thresholds: | $120.155 for gold, $15.834 for silver, $44.597 for energy; 70% of initial levels
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61773HH51
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