New York, May 23 – Morgan Stanley Finance LLC priced $1.67 million of callable contingent income securities due Oct. 31, 2023 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.3%, paid quarterly, if the underlying fund closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called starting April 29, 2022 at par on any quarterly call date.
At maturity, the payout will be par unless the fund finishes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the fund.
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: | Callable contingent income securities
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,672,000
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| Maturity: | Oct. 31, 2023
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| Coupon: | 10.3%, paid quarterly, if the underlying fund closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the fund finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the fund
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| Call: | Starting April 29, 2022 at par on any quarterly call date
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| Initial level: | $110.52
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| Downside threshold: | $66.312, 60% of initial level
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773F8D8
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