By Kiku Steinfeld
Chicago, May 27 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due May 25, 2022 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 14.5% if each index closes at or above its initial level on May 24, 2021.
The payout at maturity will be par plus 2 times the return of the lesser performing index 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $250,000
|
| Maturity: | May 25, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus 14.5% if each index closes at or above initial level on May 24, 2021
|
| Payout at maturity: | Par plus 2 times the return of the lesser performing index if each index finishes at or above its initial level; par if the worst performing index declines by no more than 30%; full exposure to decline of the worse performing index if it finishes below downside threshold
|
| Initial levels: | 1,346.927 for Russell, 2,971.61 for S&P
|
| Downside thresholds: | 942.849 for Russell, 2,080.127 for S&P; 70% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61771BEQ3
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