Chicago, Aug. 29 – Morgan Stanley Finance LLC priced $2 million of jump securities with autocallable feature due Jan. 24, 2025 linked to the worst performing of the Russell 2000 index and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Jan. 30, 2023 at a price to give a return of 11.25% per year on any annual call determination date. The notes will be called if both indexes close above their initial levels the first year, 95% of their initial levels on the second determination date and 90% for the maturity date.
The maturity date premium is 33.75%.
If not called, investors will receive par if the worst performer closes between 75% of its initial level and 90% of its initial level.
Investors will be fully exposed to the decline of worst performing index if it finishes below its 75% downside threshold 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: | Russell 2000 index and MSCI Emerging Markets index
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| Amount: | $2 million
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| Maturity: | Jan. 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If not called and worst performing index finishes above its downside threshold level but below 90% call level, par; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting Jan. 30, 2023 at a price to give a return of 11.25% per year on any annual call determination date; redemption threshold levels are 100% of initial levels first year, 95% of initial levels for second year; 90% of initial levels at maturity
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| Initial levels: | 1,244.31 for EM, 1,987.918 for Russell 2000
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| Downside thresholds: | 933.233 for EM, 1,490.939 for Russell 2000, 75% of initial levels
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61773HK24
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