By William Gullotti
Buffalo, N.Y., Dec. 17 – Morgan Stanley Finance LLC priced $18.79 million of 0% autocallable trigger participation securities due Dec. 14, 2023 linked to the iShares Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus a 15.15% call premium if the fund closes at or above its initial level on Jan. 3, 2023.
If the final fund level is greater than the initial fund level, the payout at maturity will be par plus the fund return.
If the final fund level is less than or equal to the initial fund level but is greater than or equal to the trigger level, 80% of the initial fund level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the fund declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Autocallable trigger participation securities
|
| Underlying fund: | iShares Semiconductor ETF
|
| Amount: | $18,786,180
|
| Maturity: | Dec. 14, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final fund level is greater than initial fund level, par plus fund return; if final fund level is less than or equal to initial fund level but is greater than or equal to trigger level, par; otherwise, 1% loss for every 1% that fund declines from initial level
|
| Call: | At par plus 15.15% call premium if the fund closes at or above its initial level on Jan. 3, 2023
|
| Initial fund level: | $539.09
|
| Trigger level: | $431.272; 80% of initial level
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.3%
|
| Cusip: | 61773G762
|
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