New York, Jan. 23 – Morgan Stanley Finance LLC priced $2.94 million of contingent income autocallable securities due Feb. 23, 2024 linked to the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.15%, paid monthly, if each underlying fund closes at or above its 75% downside threshold on the related monthly observation date.
The securities will be called automatically at par if each ETF closes at or above its initial level on any monthly call determination date starting July 21, 2023.
At maturity, the payout will be par unless the laggard ETF finishes below its 75% downside threshold level, in which case investors will be fully exposed to the decline of that ETF.
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: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
|
| Amount: | $2,942,000
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| Maturity: | Feb. 23, 2024
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| Coupon: | 10.15%, paid monthly, if each underlying fund closes at or above its 75% downside threshold on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline of that ETF
|
| Call: | Automatically at par if each ETF closes at or above its initial level on any monthly call determination date starting July 21, 2023
|
| Initial levels: | $277.88 for Invesco, $391.49 for SPDR
|
| Downside thresholds: | $208.41 for Invesco, $293.618 for SPDR, 75% of initial levels
|
| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61774TMS8
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