By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – Morgan Stanley Finance LLC priced $13.07 million of 0% jump securities with autocallable feature due Sept. 2, 2026 linked to the least performing of the Russell 2000 index, the FTSE 100 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10.75% per year if each asset closes at or above its call level, its initial level, on any quarterly determination date.
If the final level of each asset is greater than or equal to its call level, the payout at maturity will be par plus 53.75%.
If the final level of any asset is less than its call level but the final level of each asset is greater than or equal to its 75% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing asset 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 assets: | Russell 2000 index, FTSE 100 index and iShares MSCI Emerging Markets ETF
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| Amount: | $13.07 million
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| Maturity: | Sept. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each asset is greater than or equal to call level, par plus 53.75%; if final level of any asset is less than call level but final level of each asset is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that least-performing asset declines
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| Call: | Automatically at par plus 10.75% per year if each asset closes at or above initial level on any quarterly determination date
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| Initial levels: | $51.59 for ETF, 2,277.151 for Russell and 7,148.01 for FTSE
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| Downside threshold levels: | $38.693 for ETF 1,707.863 for Russell and 5,361.008 for FTSE; 75% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 61773FUM3
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