By Sarah Lizee
Olympia, Wash., Aug. 13 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities with autocallable feature due Aug. 4, 2022 linked to the worse 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 a premium if each index closes at or above its call level on the annual call date. The premium is 9% per year. The call level for each index will be 100% of its initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the return of the least performing index.
If either index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered jump securities with autocallable feature
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $250,000
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| Maturity: | Aug. 4, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 1.5 times return of lesser performing index; if either index falls by up to buffer, par; 1% loss for every 1% that the lesser-performing underlying index declines beyond buffer
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| Call: | Automatically at par plus a premium if each index closes at or above its call level on the annual call date; premium will be 9% per year; call level for each index will be 100% of its initial level
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| Initial levels: | 3,271.12 for S&P, 1,480.427 for Russell
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| Buffer levels: | 2,780.452 for S&P, 1,258.363 for Russell, 85% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61771BSD7
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