By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – Morgan Stanley Finance LLC priced $4.22 million of 6% fixed-income buffered autocallable securities due May 26, 2023 linked to the lowest performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par if both indexes finish above their initial levels on either semiannual early redemption date.
If each index finishes at or above the 80% buffer level, the payout will be par plus the coupon.
Otherwise, investors will lose 1.25% for each 1% decline of the least performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-income buffered autocallable securities
|
| Underlying indexes: | Nasdaq-100 and Russell 2000
|
| Amount: | $4,222,000
|
| Maturity: | May 26, 2023
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| Coupon: | 6%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 20%, in which case 1.25% loss for each 1% decline of worse-performing index beyond 20%
|
| Call: | At par if both indexes close above initial levels on either semiannual early redemption date
|
| Initial levels: | 16,306.72 for Nasdaq and 2,327.855 for Russell
|
| Buffer levels: | 13,045.376 for Nasdaq and 1,862.28 for Russell; 80% of initial levels
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| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61773HKN8
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