By Wendy Van Sickle
Columbus, Ohio, Dec. 22 – Morgan Stanley Finance LLC priced $10.84 million of 0% jump securities with autocallable feature due Dec. 23, 2024 linked to the lesser 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 will be automatically called at par plus 7.75% annualized if each index closes at or above its initial level on any annual call observation date.
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 31%.
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 threshold level, 70% of its initial level, the payout will be par.
If the final level of either index is less than its threshold level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $10,842,000
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| Maturity: | Dec. 23, 2024
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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 31%; 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 threshold level, par; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
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| Call: | Automatically at par plus 7.75% annualized if each index closes at or above initial level on any annual call observation date
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| Initial levels: | 1,969.986 Russell, 3,709.41 for S&P
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| Downside thresholds: | 1,378.99 for Russell, 2,596.587 for S&P, or 70% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61771EPQ5
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