By William Gullotti
Buffalo, N.Y., March 30 – Morgan Stanley Finance LLC priced $1.32 million of lookback entry contingent income autocallable securities due Feb. 5, 2025 tied to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at the rate of 8.5% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call determination date after six months.
If the lowest-performing index finishes at or above its downside threshold level, 80% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer 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: | Lookback entry contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1.32 million
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| Maturity: | Feb. 5, 2025
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| Coupon: | 8.5% per year, payable quarterly if each index closes at or above coupon barrier level on observation date that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final coupon; otherwise, full exposure to decline of worst performer from its initial level
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| Call: | At par if each index closes at or above its initial level on any quarterly call determination date after six months
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| Initial levels: | 12,101.93 for Nasdaq, 1,931.945 for Russell, 4,076.6 for S&P; maximum initial values set on pricing date, with initial level for each index determined by the lowest closing value on any trading day between Jan. 31 and Feb. 28, inclusive
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| Coupon barriers: | 80% of initial levels
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| Downside threshold levels: | 80% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61774TWW8
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