By Taylor Fox
New York, Oct. 28 – Morgan Stanley Finance LLC priced $5 million of 0% jump securities with autocallable feature due Oct. 2, 2025 linked to the worst performing of the Dow Jones industrial average and the FTSE 100 index, 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 10% per year if each index closes at or above its call level on any quarterly determination date. The call level for each index will be the initial level.
If the notes are not called, investors will receive par plus 50% at maturity if both indexes finish positive.
If the final level of the worst performing index is less than its initial level and above 67% of its initial level, the payout will be par.
Otherwise, investors will be full exposed to the losses of the worst performer.
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 FTSE 100 index
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| Amount: | $5 million
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| Maturity: | Oct. 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically called at par plus 10% annual rate if each index closes at or above its call level on any quarterly determination date; call level for each index will be initial level
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| Payout at maturity: | Final call payment of par plus 50% if both indexes finish positive; if final level of the worst performing index finishes negative but above 67% of initial level, par; if the final level of either index is less than its downside threshold level, 1% loss for every 1% the lesser-performing index declines from its initial level
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| Initial levels: | 5,927.93 for FTSE, 27,584.06 for Dow
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| Downside thresholds: | 3,971.713 for FTSE, 18,481.32 for Dow; 67% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Sept. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 61771B5C4
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