By Angela McDaniels
Tacoma, Wash., Sept. 30 – Morgan Stanley Finance LLC priced $2.01 million of 0% jump securities with autocallable feature due Sept. 30, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 7.5% per year if each index closes at or above its call threshold level, 95% of its initial level, on any annual determination date.
If the notes are not called and the final level of each index is greater than or equal to its call threshold level, the payout at maturity will be par plus 37.5%.
If the final level of either index is less than its call threshold level but the final level of each index is greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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: | Jump securities with autocallable feature
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Underlying indexes: | Dow Jones industrial average and Russell 2000
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Amount: | $2,011,000
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Maturity: | Sept. 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called and final level of each index is greater than or equal to call threshold level, par plus 37.5%; if final level of either index is less than call threshold level but final level of each index is greater than or equal to downside threshold level, par; if final level of either index is less than downside threshold level, 1% loss for every 1% that lesser-performing index declines from initial level
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Call: | Automatically at par plus 7.5% per year if each index closes at or above call threshold level on any annual determination date
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Initial levels: | 1,550.654 for Russell 2000 and 26,970.71 for Dow
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Call thresholds: | 1,473.121 for Russell 2000 and 25,622.175 for Dow, or 95% of initial levels
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Downside thresholds: | 1,085.458 for Russell 2000 and 18,879.497 for Dow, or 70% of initial levels
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Pricing date: | Sept. 25
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Settlement date: | Sept.. 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.175%
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Cusip: | 61769HTZ8
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