New York, March 23 – Morgan Stanley Finance LLC priced $1.12 million of contingent income autocallable securities due March 20, 2025 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if the underlying fund closes at or above its 55% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly call determination date starting Sept. 21, 2023.
At maturity, the payout will be par unless the ETF finishes below its 55% downside threshold level, in which case investors will be fully exposed to the decline of the ETF.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying ETF: | SPDR S&P Regional Banking ETF
|
| Amount: | $1.12 million
|
| Maturity: | March 20, 2025
|
| Coupon: | 11.5%, paid quarterly, if the underlying fund closes at or above its 55% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the ETF
|
| Call: | Automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly call determination date starting Sept. 21, 2023
|
| Initial level: | $43.44
|
| Downside threshold: | $23.892, 55% of initial level
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
|
|
| Cusip: | 61774XCK7
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
