New York, Nov. 14 – Morgan Stanley Finance LLC priced $2 million of callable contingent income securities due Nov. 13, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if the underlying fund closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Nov. 14, 2024.
At maturity, the payout will be par unless the fund finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the 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 ETF: | SPDR S&P Regional Banking ETF
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| Amount: | $2 million
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| Maturity: | Nov. 13, 2026
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| Coupon: | 12.5%, paid quarterly, if the 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 fund finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the fund
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| Call option: | At par on any quarterly call date starting Nov. 14, 2024
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| Initial level: | $42.02
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| Downside threshold: | $29.414, 70% of initial level
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61775MWM4
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