By Kiku Steinfeld
Chicago, Sept. 12 – Morgan Stanley Finance LLC priced $952,000 of contingent income autocallable securities due Jan. 31, 2024 linked to the Energy Select Sector SPDR Fund and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, 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 July 26, 2022 at par on any quarterly call determination date if each fund closes at or above 95% of its initial level.
At maturity the payout will be par unless the worst performing ETF closes below its 70% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying ETFs: | Energy Select Sector SPDR Fund and SPDR S&P Biotech ETF
|
| Amount: | $952,000
|
| Maturity: | Jan. 31, 2024
|
| Coupon: | 10.5%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date
|
| Price: | Par
|
| 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 July 26, 2022 at par on any quarterly call determination date if each fund closes at or above 95% of initial level
|
| Initial levels: | $89.59 for Biotech, $65.20 for Energy
|
| Downside thresholds: | $62.713 for Biotech, $45.64 for Energy, 70% of initial level
|
| Call threshold: | $85.111 for Biotech, $61.94 for Energy, 95% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61773HXD6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
