New York, Jan. 9 – Morgan Stanley Finance LLC priced $10 million of contingent income buffered autocallable securities due Nov. 22, 2023 linked to the share performance of the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid monthly, if the underlying ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date.
At maturity, the payout will be par unless the ETF declines by more than 15%, in which case investors will lose 1.176% for each 1% decline beyond 15%.
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 buffered autocallable securities
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| Underlying fund: | Invesco QQQ Trust, Series 1
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| Amount: | $10 million
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| Maturity: | Nov. 22, 2023
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| Coupon: | 15%, paid monthly, if the underlying ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if the ETF finishes at or above 85% of initial level, otherwise investors will lose 1.176% for each 1% decline beyond 15%
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| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $289.39
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| Buffer: | 15%
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| Strike date: | Nov. 15, 2022
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| Pricing date: | Nov. 17, 2022
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| Settlement date: | Nov. 22, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.2% including a structuring fee of 0.1%
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| Cusip: | 61774HX60
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