By Kiku Steinfeld
Chicago, Dec. 15 – Morgan Stanley Finance LLC priced $930,000 of 4.25% fixed-income buffered autocallable securities due April 24, 2025 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 s quarterly.
The notes will be called at par if both indexes finish above their initial levels on either quarterly early redemption date after one year.
If each index finishes at or above the 85% buffer level, the payout will be par plus the coupon.
Otherwise, investors will lose 1% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed-income buffered autocallable securities
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| Underlying indexes: | Nasdaq-100 and Russell 2000
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| Amount: | $930,000
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| Maturity: | April 24, 2025
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| Coupon: | 4.25%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 15%, in which case 1% loss for each 1% decline of worse-performing index beyond 15%
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| Call: | At par if both indexes close above initial levels on either quarterly early redemption date after one year
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| Initial levels: | 13,910.76 for Nasdaq and 1,990.134 for Russell
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| Buffer levels: | 11,824.146 for Nasdaq and 1,691.614 for Russell; 85% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.65%
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| Cusip: | 61773QN21
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