By William Gullotti
Buffalo, N.Y., May 19 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due July 12, 2024 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The securities will pay a contingent coupon of 7% annually, paid quarterly if the underlying fund closes at or above the 66% downside threshold on the related quarterly observation date.
If underlying fund closes at or above its initial price on any of the quarterly determination dates after six months, the securities will be redeemed at par plus the contingent payment.
If the underlying fund finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $500,000
|
| Maturity: | July 12, 2024
|
| Coupon: | 7% annually, paid quarterly if underlying fund closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if underlying fund finishes at or above downside threshold; otherwise, full exposure to any losses
|
| Call: | At par plus contingent payment if underlying fund closes at or above initial share price on any determination date after six months
|
| Initial share price: | $48.19
|
| Trigger level: | $31.805; 66% of initial price
|
| Pricing date: | April 12
|
| Settlement date: | April 14
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 61771VTV2
|
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