New York, Feb. 5 – Morgan Stanley Finance LLC priced $2.62 million of contingent income autocallable securities due Jan. 28, 2027 linked to the Real Estate Select Sector SPDR Fund and the Consumer Discretionary Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.1%, 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 at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date starting July 25, 2024.
At maturity, the payout will be par unless the worst performing ETF finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing ETF.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying ETFs: | Real Estate Select Sector SPDR Fund and Consumer Discretionary Select Sector SPDR Fund
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| Amount: | $2,615,000
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| Maturity: | Jan. 28, 2027
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| Coupon: | 9.1%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date starting July 25, 2024
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| Initial levels: | $38.66 for Real Estate Select Sector SPDR Fund, $170.90 for Consumer Discretionary Select Sector SPDR Fund
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| Downside thresholds: | $27.062 for Real Estate Select Sector SPDR Fund, $119.63 for Consumer Discretionary Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771WST6
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