New York, July 11 – Morgan Stanley Finance LLC priced $1.75 million of jump securities with autocallable feature due July 1, 2027 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 12.35% per year if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting June 29, 2023.
At maturity, the payout will be par plus 61.75% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing index declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing index 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: | Dow Jones industrial average and Russell 2000 index
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Amount: | $1.75 million
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Maturity: | July 1, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 61.75% if worst performing index finishes at or above its initial level; par if worst performing index declines but finishes at or above its 70% trigger level; otherwise, full exposure to decline of worst performing index from initial level
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Call: | Automatically at a price to give a return of 12.35% per year if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting June 29, 2023
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Initial levels: | 30,946.99 for Dow Jones industrial average, 1,738.841 for Russell 2000
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Downside thresholds: | 21,662.893 for Dow Jones industrial average, 1,217.189 for Russell 2000, 70% of initial level
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Pricing date: | June 28
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Settlement date: | June 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.35%
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Cusip: | 61774DRX7
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