By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – Morgan Stanley Finance LLC priced $1.5 million of 0% jump securities with autocallable feature due Nov. 29, 2023 linked to the least performing of the U.S. Global Jets exchange-traded fund and the common stocks of Southwest Airlines Co. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 20.5% per year if each asset closes at or above its initial level on any quarterly call observation date after one year.
If the final level of each asset is greater than or equal to its downside threshold level, the payout at maturity will be par plus 61.5%.
If the final level of any asset is less than its threshold level, investors will lose 1% for every 1% that the least-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
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying assets: | U.S. Global Jets ETF, Southwest Airlines Co. and Boeing Co.
|
| Amount: | $1.5 million
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| Maturity: | Nov. 29, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each asset is greater than or equal to downside threshold level, par plus 61.5%; otherwise, 1% loss for every 1% that least-performing asset declines from initial level
|
| Call: | Automatically at par plus 20.5% annualized call premium if each asset closes at or above initial level on any quarterly call observation date after one year
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| Initial levels: | $46.81 for Southwest, $211.53 for Boeing, $21.42 for ETF
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| Downside thresholds: | $28.086 for Southwest, $126.918 for Boeing, $12.852 for ETF or 60% of initial levels
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771G616
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