New York, Aug. 31 – Morgan Stanley Finance LLC priced $1.09 million of contingent income buffered autocallable securities due June 2, 2026 linked to iShares Silver Trust and VanEck Gold Miners ETF ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting March 4, 2024 at par on any quarterly call determination date if each fund closes at or above its initial level.
At maturity the payout will be par unless the laggard fund declines by more than its 15% buffer in which case investors will be exposed to the decline of the laggard fund beyond the buffer.
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 ETF: | iShares Silver Trust and VanEck Gold Miners ETF
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| Amount: | $1,091,000
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| Maturity: | June 2, 2026
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| Coupon: | 10%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the laggard fund gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the laggard fund beyond the buffer
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| Call: | Automatically starting March 4, 2024 at par if each fund closes at or above its initial level on any quarterly call determination date
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| Initial level: | $22.22 for silver, $29.00 for gold
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| Buffer: | 15%
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| Coupon barrier: | $17.776, 80% of initial level
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.6%
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| Cusip: | 61775HRA7
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