New York, Dec. 29 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due June 25, 2024 linked to the worst performing of the Energy Select Sector SPDR fund and SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 21, 2022 at par on any quarterly call determination date if both underliers finish above 95% of their initial levels on the related determination date.
At maturity the payout will be par unless the worst performing fund closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the worst performing 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: | Contingent income autocallable securities
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| Underlying ETFs: | Energy Select Sector SPDR fund and SPDR S&P Metals & Mining ETF
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| Amount: | $250,000
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| Maturity: | June 25, 2024
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| Coupon: | 9% annual rate, paid quarterly, if each underlying fund closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
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| Call: | Automatically starting June 21, 2022 at par on any quarterly call determination date if both underliers finish above 95% of initial levels
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| Initial levels: | $53.01 for Energy Select Sector SPDR Fund, $41.99 for SPDR S&P Metals & Mining ETF
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| Downside thresholds: | $37.107 for Energy Select Sector SPDR Fund, $29.393 for SPDR S&P Metals & Mining ETF, 70% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.35%
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| Cusip: | 61773HMX4
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