By Kiku Steinfeld
Chicago, July 5 – Morgan Stanley Finance LLC priced $735,000 of contingent income autocallable securities due Feb. 13, 2025 linked to the Energy Select Sector SPDR Fund, Industrial Select Sector SPDR Fund and Consumer Staples Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.4%, paid monthly, if each underlying fund closes at or above its 70% downside threshold level on the related monthly observation date.
The securities will be called automatically at par if the price of each underlying fund is greater than or equal to its initial price on any monthly call determination date after one year.
At maturity the payout will be par unless the worst performing ETF closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Energy Select Sector SPDR Fund, Industrial Select Sector SPDR Fund and Consumer Staples Select Sector SPDR Fund
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| Amount: | $735,000
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| Maturity: | Feb. 13, 2025
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| Coupon: | 13.4%, paid monthly, if each underlying fund closes at or above its 70% downside threshold level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically at par if the price of each underlying fund is greater than or equal to its initial price on any monthly call determination date after one year
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| Initial levels: | $86.81 for Energy, $101.42 for Industrial, $72.30 for Consumer
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| Downside threshold levels: | $60.767 for Energy, $70.994 for Industrial, $50.61 for Consumer, 70% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61774TZQ8
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