By William Gullotti
Buffalo, N.Y., Aug. 30 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Feb. 28, 2024 linked to the worst performing of the ARK Genomic Revolution ETF and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 14.5% if each ETF closes at or above its initial level, on any semiannual observation date.
At maturity, if all ETFs finish above their initial levels, the payout will be $1,435 per security.
If the worst performing ETF finishes below its call level but at or above its 60% downside threshold level, the payout will be par. If the worst performing ETF finishes below its downside threshold level, investors will be fully exposed to the decline of that ETF.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
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| Underlying ETFs: | ARK Genomic Revolution ETF, ARK Innovation ETF
|
| Amount: | $250,000
|
| Maturity: | Feb. 28, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 14.5% if each ETF closes at or above initial level on any semiannual observation date
|
| Payout at maturity: | If all ETFs finish above initial levels, $1,435 per security; if the worst performing ETF finishes below its call level but at or above its downside threshold level, par; if the worst performing ETF finishes below its downside threshold level, investors will be fully exposed to the decline of that ETF
|
| Initial levels: | $98.62 for Genomic, $139.04 for Innovation
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| Downside threshold levels: | $59.172 for Genomic, $83.424 for Innovation; 60% of initial levels
|
| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61771E7G7
|
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