By Wendy Van Sickle
Columbus, Ohio, March 5 – Morgan Stanley Finance LLC priced $1.22 million of contingent income buffered autocallable securities due Feb. 23, 2024 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at the rate of 6% per year if the lowest performing underlier closes at or above its coupon barrier level, 85% of its initial level, on the determination date for that period.
The notes will be automatically called at par plus the coupon if the lowest performing underlier closes at or above its initial level on any monthly determination date after one year.
The payout at maturity will be par plus the coupon unless the lowest performing underlier finishes below its buffer level, 85% of its initial level, in which case investors will lose 1% for every 1% that the underlier 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: | Contingent income buffered autocallable securities
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| Underlying funds: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,221,000
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| Maturity: | Feb. 23, 2024
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| Coupon: | 6% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the lowest performing fund closes below buffer level, in which case 1% loss for every 1% that the lowest performing underlier declines beyond buffer
|
| Call: | Automatically at par plus the coupon if each underlier closes at or above initial level on any monthly determination date after one year
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| Initial levels: | 2,256.106 for Russell 2000 and 13,699.71 for Nasdaq-100
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| Coupon barrier levels: | 1,917.69 for Russell 2000 and 11,644.754 for Nasdaq-100; 85% of initial level
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| Buffer levels: | 1,917.69 for Russell 2000 and 11,644.754 for Nasdaq-100; 85% of initial level
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 22
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61771E3V8
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