New York, Sept. 28 – Morgan Stanley Finance LLC priced $10 million of contingent income buffered autocallable securities due Sept. 28, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.2296%, payable monthly.
The securities will be called automatically starting Oct. 24 at par if the price of the underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the fund declines by more than its 15% buffer, in which case investors will lose 1.1765% for every 1% that the fund declines beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| 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: | SPDR S&P 500 ETF Trust
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| Amount: | $10 million
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| Maturity: | Sept. 28, 2023
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| Coupon: | 14.2296%
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| Price: | Par
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| Payout at maturity: | Par if the fund loses no more than its 15% buffer; otherwise, investors will lose 1.1765% for every 1% that the fund declines beyond the buffer
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| Call: | Automatically starting Oct. 24 at par if the price of the underlying stock is greater than or equal to its initial price on any monthly call determination date
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| Initial level: | $367.95
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| Buffer: | 15%
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Distributor: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.2%
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| Cusip: | 61774HJU3
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