New York, Feb. 14 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due April 25, 2023 linked to the worst performing of the iShares Global Clean Energy ETF and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlying fund closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting Oct. 25, 2021 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 fund closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the worst performing fund.
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
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| Underlying ETFs: | iShares Global Clean Energy ETF and Energy Select Sector SPDR Fund
|
| Amount: | $250,000
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| Maturity: | April 25, 2023
|
| Coupon: | 10.5%, paid monthly, if each underlying fund closes at or above its 70% downside threshold on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
|
| Call: | Automatically starting Oct. 25, 2021 at par if the price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date
|
| Initial levels: | $23.025 for Clean, $47.07 for Energy
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| Downside thresholds: | $16.118 for Clean, $32.949 for Energy, 70% of initial levels
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| Pricing date: | April 20, 2021
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| Settlement date: | April 23, 2021
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61771VUN8
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