By Wendy Van Sickle
Columbus, Ohio, July 1 – Morgan Stanley Finance LLC priced $268,000 of 0% jump equity-linked partial principal at risk securities with autocallable feature due June 30, 2027 linked to the Morgan Stanley MAP Trend 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 an early redemption premium of 5.5% per year if the index closes at or above the redemption threshold on any annual determination date other than the final one.
The redemption threshold is 103% of the initial index level for the first determination date and steps up by 300 basis points each year.
If the notes have not been called, the payout at maturity will be par plus any index gain. If the index falls, investors will be exposed to the first 10% of any decline.
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 equity-linked partial principal at risk securities with autocallable feature
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Underlying index: | Morgan Stanley MAP Trend index
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Amount: | $268,000
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Maturity: | June 30, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; otherwise, exposure to first 10% of loss with minimum payout of 90% of par
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Call: | Automatically at par plus an early redemption premium of 5.5% per year if the index closes at or above the redemption threshold on any annual determination date other than the final one; redemption threshold is 103% of the initial index level for the first determination date and steps up by 300 bps each year
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Initial level: | 230.59
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.25%
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Cusip: | 61771BKX1
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