By Sarah Lizee
Olympia, Wash., Jan. 3 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Dec. 31, 2021 linked to the worse performing of the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be automatically called at par plus an annual premium of 12% if each index closes at or above its initial level any annual call date.
The payout at maturity will be par plus 36% if each index finishes at or above its initial level.
If the worse performing index declines but by no more than 40%, the payout will be par.
If the worse performing index finishes below its 60% 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and Dow Jones Industrial Average
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| Amount: | $1 million
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| Maturity: | Dec. 31, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus 12% a year if each index closes above initial level on Dec. 31, 2019, Dec. 28, 2020 or Dec. 28, 2021
|
| Payout at maturity: | If both indexes finish at or above initial level, par plus 36%; if worse performing index falls by up to 40%, par; otherwise, full exposure to loss of worse performing index
|
| Initial levels: | 1,337.923 for Russell, 23,062.40 for Dow
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| Downside thresholds: | 802.754 for Russell, 13,837.44 for Dow; 60% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61768DSE6
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