By Kiku Steinfeld
Chicago, June 28 – Morgan Stanley Finance LLC priced $280,000 of contingent income autocallable securities due Dec. 19, 2024 linked to the Energy Select Sector SPDR Fund, Technology Select Sector SPDR Fund and 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 12%, paid monthly, if each underlying fund closes at or above its 60% downside threshold on the related monthly observation date.
The securities will be called automatically starting June 21, 2022 at par if the price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing ETF closes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing ETF.
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, Technology Select Sector SPDR Fund and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $280,000
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| Maturity: | Dec. 19, 2024
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| Coupon: | 12%, paid monthly, if each underlying fund closes at or above its 60% downside threshold on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically starting June 21, 2022 at par if the price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $55.15 for Energy, $173.94 for, $95.65 for Oil & Gas
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| Downside thresholds: | $33.09 for Energy, $104.364 for Technology, $57.39 for Oil & Gas, 60% of initial levels
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773HUR8
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