By William Gullotti
Buffalo, N.Y., Jan. 10 – Morgan Stanley Finance LLC priced $5 million of 0% commodity-linked notes due Feb. 16, 2024 linked to the performance West Texas Intermediate Light Sweet Crude Oil Futures Contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the commodity finishes at or above its 60% threshold price, the payout at maturity will be par plus 16.5%.
Otherwise, investors will be fully exposed to the commodity’s decline from initial price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Commodity-linked notes
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| Underlying asset: | West Texas Intermediate Light Sweet Crude Oil Futures Contract
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| Amount: | $5 million
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| Maturity: | Feb. 16, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If commodity finishes at or above 60% threshold, par plus 16.5%; otherwise, full exposure to loss
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| Initial price: | $73.67
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| Threshold price: | $44.202; 60% of initial price
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.09%
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| Cusip: | 61774FAW2
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