By Taylor Fox
New York, Nov. 16 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities with autocallable feature due Oct. 30, 2026 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual 6.25% premium if each index closes at or above its call level on any annual observation date. The call level will start at 102% and then will increase by 2% each year, ending at 110% on Oct. 27, 2025.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the return of the lesser-performing index.
If the final level of either index is less than its initial level, but the final level of each index is greater than or equal to its buffer level, 80% of its initial level, the payout will be par.
If the final level of either index is less than its buffer level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by Morgan Stanley.
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: | Nasdaq-100 index and the Russell 2000 index
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| Amount: | $250,000
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| Maturity: | Oct. 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to its initial level, par plus the return of lesser-performing index; if final level of either index is less than its initial level but final level of each index is greater than or equal to its buffer level, par; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 20%
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| Call: | Automatically at par plus 6.25% annual premium if both indexes close above their call levels on related annual determination date; call levels are 102% of initial levels on first determination date and increase 2% each year, ending at 110% on Oct. 27, 2025
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| Initial levels: | 11,598.95 for Nasdaq and 1,590.482 for Russell
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| Buffer levels: | 9,279.16 for Nasdaq and 1,272.386 for Russell, or 80% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 61771EAB4
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