By Taylor Fox
New York, March 23 – Morgan Stanley Finance LLC priced $3 million of 0% jump securities with autocallable feature due March 13, 2026 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, 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 a premium of 12.6% payable quarterly if each index closes at or above its initial level on any annual observation date.
At maturity, if the notes have not been called and all indexes finish above their initial levels, the payout will be par plus 63%.
If the worst performing index declines by up to 25%, the payout will be par. If the worst performing index finishes below its 75% downside threshold level, investors will be fully exposed to the decline of that index.
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: | Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $3 million
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| Maturity: | March 13, 2026
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus a quarterly premium of 12.6% if each index closes at or above its initial level on any annual observation date
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| Payout at maturity: | Par plus 63% if both indexes finish above initial level; if the worst performing index declines by up to 25%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
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| Initial levels: | 3,819.92 for Stoxx, 2,285.683 for Russell
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| Downside thresholds: | 2,864.94 for Stoxx, 1,714.262 for Russell; 75% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 61771VJJ0
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