New York, Feb. 6 – Morgan Stanley Finance LLC priced $1.38 million of contingent income autocallable securities due Jan. 28, 2027 linked to the stock performance of Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date starting July 29, 2024.
At maturity, the payout will be par unless the worst performing stock finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Alphabet Inc. and Microsoft Corp.
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| Amount: | $1,375,000
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| Maturity: | Jan. 28, 2027
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| Coupon: | 9.6%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date starting July 29, 2024
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| Initial levels: | $148.70 for Alphabet, $402.56 for Microsoft
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| Downside thresholds: | $89.22 for Alphabet, $241.536 for Microsoft, 60% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.35%
|
| Cusip: | 61771WRG5
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