Chicago, Feb. 15 – Morgan Stanley Finance LLC priced $406,000 of contingent income autocallable securities due May 2, 2024 linked to the worst performing of the Energy Select Sector SPDR fund and Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, 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 29, 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 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
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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 Financial Select Sector SPDR fund
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| Amount: | $406,000
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| Maturity: | May 2, 2024
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| Coupon: | 13% annual rate, paid quarterly, if each underlying fund closes at or above its 70% 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 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 29, 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: | $75.15 for Energy, $34.51 for Financial
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| Downside thresholds: | $52.605 for Energy, $24.157 for Financial, 70% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 4, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61773QB81
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