Chicago, Aug. 14 – Morgan Stanley Finance LLC priced $450,000 of contingent income buffered autocallable securities due July 30, 2026 linked to the worst performing of the iShares Silver Trust and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.7%, paid monthly, if both underlying funds close at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 31, 2024 at par on any monthly call determination date if both ETFs close above their initial levels.
At maturity the payout will be par unless the fund declines by more than its 25% buffer in which case investors will be exposed to the decline of the fund beyond the buffer.
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 buffered autocallable securities
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| Underlying ETFs: | iShares Silver Trust and VanEck Gold Miners ETF
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| Amount: | $450,000
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| Maturity: | July 30, 2026
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| Coupon: | 9.7% annual rate, paid monthly, if the underlying funds close at or above its 80% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the worst performing fund gains or loses no more than its 25% buffer, otherwise investors will be exposed to the decline in the fund beyond the buffer
|
| Call: | Automatically starting July 31, 2024 at par on any monthly call determination date if both ETFs close above initial levels
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| Initial level: | $22.91 for silver, $31.65 for gold
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| Coupon barrier: | $18.328 for silver, $25.32 for gold; 80% of initial level
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| Buffer levels: | $17.183 for silver, $23.738 for gold; 75% of initial levels
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| Buffer: | 25%
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.65%
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| Cusip: | 61775HNQ6
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