Chicago, Oct. 6 – Morgan Stanley Finance LLC priced $860,000 of contingent income autocallable securities due Feb. 11, 2027 linked to the worst performing of the Russell 2000 index and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlier closes at or above its 50% downside threshold on the related monthly observation date.
The securities will be called automatically starting Feb. 13, 2023 at par if the level of each underlier 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 asset closes below its 50% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.
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 autocallable securities
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| Underlying assets: | Russell 2000 index and ARK Innovation ETF
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| Amount: | $860,000
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| Maturity: | Feb. 11, 2027
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| Coupon: | 9% annual rate, paid monthly, if each underlier closes at or above its 50% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically at par starting Feb. 13, 2023 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $72.39 for ARK, 2,045.374 for Russell
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| Downside thresholds: | $36.195 for ARK, 1,022.687 for Russell, 50% of initial levels
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61773H6E4
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