New York, Jan. 9 – Morgan Stanley Finance LLC priced $374,000 of contingent income autocallable securities due Dec. 13, 2028 linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting March 13, 2024 at par if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the index closes below its 50% downside threshold level in which case investors will be fully exposed to the decline of the index.
The notes are guaranteed by Morgan Stanley.
The index is a momentum-based strategy tied to U.S. equity futures with a volatility target and a 4% per annum daily decrement.
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 index: | S&P U.S. Equity Momentum 40% VT 4% Decrement index
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| Amount: | $374,000
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| Maturity: | Dec. 13, 2028
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| Coupon: | 14%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the index closes below its downside threshold level in which case investors will be fully exposed to the decline in the index
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| Call: | Automatically starting March 13, 2024 at par if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial level: | 795.26
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| Downside threshold: | 397.63, 50% of initial level
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| Coupon barrier: | 556.682, 70% of initial level
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61775M2V7
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