New Issue: Morgan Stanley prices $606,000 autocallable jump securities linked to indexes

By Kiku Steinfeld

Chicago, March 22 – Morgan Stanley Finance LLC priced $606,000 of jump securities with autocallable feature due Sept. 22, 2026 linked to Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The securities will be called automatically starting Sept. 20, 2022 at par plus 11.75% per year if the closing level of each underlying index is greater than or equal to 105% of its initial level on any annual call determination date.

At maturity the payout will be par plus 58.75% if the worst performing index finishes at or above 105% of its initial level.

The payout will be par if the worst performing index finishes below 105% of its initial level but at or above its 70% downside threshold level.

Investors will be fully exposed to the decline of the worst performing index if it finishes below its downside threshold level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Jump securities with autocallable feature
Underlying indexes:	Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
Amount:	$606,000
Maturity:	Sept. 22, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 58.75% if the worst performing index finishes at or above its call threshold level; par if the worst performing index finishes below its call threshold level but at or above its downside threshold; otherwise, full exposure to the decline of the worst performing index
Call:	Automatically at par plus 11.75% per year if the level of each underlying index is greater than or equal to 105% of its initial level on any annual call determination date
Initial levels:	34,584.88 for Dow, 15,333.47 for Nasdaq, 2,236.871 for Russell
Downside thresholds:	24,209.416 for Dow, 10,733.429 for Nasdaq, 1,565.810 for Russell, 70% of initial levels
Call thresholds:	36,314.124 for Dow, 16,100.144 for Nasdaq, 2,348.715 for Russell, 105% of the initial levels
Pricing date:	Sept. 17, 2021
Settlement date:	Sept. 22, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61773FF32

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