By Taylor Fox
New York, Feb. 24 – Morgan Stanley Finance LLC priced $4.5 million of 0% jump securities with autocallable feature due Feb. 11, 2027 linked to the worst performing of the Nasdaq-100 index and the S&P 500 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 an annual premium of 11.1% if each index closes at or above its initial level on any quarterly observation date starting after one year.
At maturity, if the notes have not been called and all indexes finish above their initial levels, the payout will be par plus 66.6%.
If the worst performing index declines by up to 30%, the payout will be par. If the worst performing index finishes below its 70% 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: | Nasdaq-100 index and S&P 500 index
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| Amount: | $4.5 million
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| Maturity: | Feb. 11, 2027
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annualized premium of 11.1% if each index closes at or above its initial level on any quarterly observation date starting after one year
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| Payout at maturity: | Par plus 66.6% if both indexes finish above initial level; if the worst performing index declines by up to 30%, 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: | 3,871.74 for S&P, 13,560.89 for Nasdaq
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| Downside thresholds: | 2,710.218 for S&P, 9,492.623 for Nasdaq; 70% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771E5V6
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