By Angela McDaniels
Tacoma, Wash., Oct. 25 – Morgan Stanley Finance LLC priced $69 million of 0.25% cash-settled equity-linked notes due Oct. 25, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be $1,000 multiplied by the quotient of the final share price divided by the threshold price, subject to a minimum payout of par. The threshold price is 137% of the initial share price, which means that the payout will be greater than par only if Microsoft has appreciated by more than 37%.
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: | Cash-settled equity-linked notes
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| Underlying stock: | Microsoft Corp. (Symbol: MSFT)
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| Amount: | $69 million
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| Maturity: | Oct. 25, 2024
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| Coupon: | 0.25%, payable semiannually
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| Price: | Par
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| Payout at maturity: | $1,000 multiplied by quotient of final share price divided by threshold price, subject to minimum payout of par
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| Initial share price: | $137.6166 (closing price on Oct. 22)
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| Final share price: | Average of closing prices on five trading days ending Oct. 23, 2024
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| Threshold price: | $188.5347, or 137% of initial share price
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61769HE43
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