By Sarah Lizee
Olympia, Wash., March 9 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due March 5, 2025 linked to the worst performing of the S&P 500 index and the Russell 2000 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 11.5% per year if each index closes at or above its initial level on any annual determination date.
The payout at maturity will be par plus 57.5% if each index finishes at or above its initial level.
If the worst performing index declines by no more than 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 underwriter.
| 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: | S&P 500 index and Russell 2000 index
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| Amount: | $1 million
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| Maturity: | March 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 11.5% per year if each index closes at or above initial level on any annual determination date
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| Payout at maturity: | Par plus 57.5% if each index finishes at or above its initial level; if the worst performing index declines by no more than 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: | 1,476.431 for Russell, 2,954.22 for S&P
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| Downside thresholds: | 1,033.502 for Russell, 2,067.954 for S&P; 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61770FJY3
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