Chicago, May 3 – Morgan Stanley Finance LLC priced $5.99 million of 0% jump securities with autocallable feature due March 24, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 9.75% if each index closes at or above its initial level on any annual observation date.
At maturity, if the notes have not been called and all indexes finish above their initial levels, the payout will be par plus 39%.
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 70% downside threshold level, the payout will be par. If the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline.
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: | Russell 2000 index and S&P 500 index
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Amount: | $5,988,000
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Maturity: | March 24, 2025
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Coupon: | 0%
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Price: | Par
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Call: | At par plus an annual premium of 9.75% if each index closes at or above its initial level on any annual observation date
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Payout at maturity: | Par plus 39% if both indexes finish above initial level; if final level of either index is less than initial level but final level of each index is greater than or equal to downside threshold level, par; if worst performing index finishes below downside threshold level, full exposure to decline
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Initial levels: | 3,913.10 for S&P, 2,287.545 for Russell
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Downside threshold levels: | 2,739.17 for S&P, 1,601.282 for Russell; 70% of initial levels
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Pricing date: | March 19
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Settlement date: | March 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61771VFC9
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