By Sarah Lizee
Olympia, Wash., Nov. 28 – Morgan Stanley Finance LLC priced $503,000 of contingent income buffered autocallable securities due Nov. 26, 2025 linked to the lesser performing of the Nasdaq-100 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at the rate of 10.1% per year if each underlier closes at or above its buffer level, 80% of its initial level, on the determination date for that period.
After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either underlier finishes below its buffer level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underliers: | Nasdaq-100 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $503,000
|
| Maturity: | Nov. 26, 2025
|
| Coupon: | 10.1% per year, payable monthly if each underlier closes at or above buffer level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | After one year, automatically at par if each underlier closes at or above initial level on any quarterly determination date
|
| Initial levels: | 6,575.663 for index and $40.21 for ETF
|
| Buffer levels: | 5,260.530 for index and $32.168 for ETF; 80% of initial levels
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 27
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61768DPS8
|
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