By Sarah Lizee
Olympia, Wash., May 27 – Morgan Stanley Finance LLC priced $2.64 million of 0% jump securities with autocallable feature due May 30, 2024 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 12.75% per year if each index closes at or above its initial level on the annual determination date.
The payout at maturity will be par plus 51% 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: | $2,637,000
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Maturity: | May 30, 2024
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Coupon: | 0%
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Price: | Par
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Call: | Automatically at par plus 12.75% 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 par plus 51% 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
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Initial levels: | 1,355.531 for Russell, 2,955.45 for S&P
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Downside thresholds: | 948.872 for Russell, 2,068.815 for S&P; 70% of initial levels
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Pricing date: | May 22
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Settlement date: | May 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61771BEC4
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