Chicago, Aug. 21 – Morgan Stanley Finance LLC priced $790,000 of 0% market-linked securities that are autocallable with fixed-percentage buffered downside due Aug. 3, 2026 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an annual 18% premium if the closing price of the underlying ETF is greater than or equal to its initial price on any annual call determination date.
The maturity date call premium is 72%.
If the notes are not called, the payout will be par unless the ETF finishes below its 90% downside threshold level, in which case investors will be exposed to the decline of the ETF beyond the 10% buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market-linked securities – autocallable with fixed-percentage buffered downside
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| Underlying ETF: | Energy Select Sector SPDR Fund
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| Amount: | $790,000
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| Maturity: | Aug. 3, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 72%; otherwise, par unless the ETF finishes below its downside threshold level, in which case investors will be exposed to the decline in the ETF beyond the 10% buffer
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| Call: | Automatically at par plus 18% annual premium if the closing price of the underlying ETF is greater than or equal to its initial price on any annual call determination date
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| Initial level: | $78.42
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| Downside threshold: | $70.578, 90% of initial level
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.475%
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| Cusip: | 61774DZE0
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