Chicago, Jan. 30 – Morgan Stanley Finance LLC priced $1.17 million of callable contingent income securities due Jan. 15, 2026 linked to the worst performing of the Materials Select Sector SPDR Fund, Consumer Discretionary Select Sector SPDR Fund and Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.65%, paid quarterly, if each underlying fund closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting July 15, 2024 at par 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
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying ETFs: | Materials Select Sector SPDR Fund, Consumer Discretionary Select Sector SPDR Fund and Industrial Select Sector SPDR Fund
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| Amount: | $1.17 million
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| Maturity: | Jan. 15, 2026
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| Coupon: | 9.65% 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 fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
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| Call: | Starting July 15, 2024 at par on any quarterly call determination date
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| Initial levels: | $83.62 for materials select, $112.38 for industrial select, $176.31 for consumer fund
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| Downside thresholds: | $58.534 for materials select, $78.666 for industrial select, $123.417 for consumer fund, 70% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61771WLC0
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