By Wendy Van Sickle
Columbus, Ohio, May 17 – Morgan Stanley Finance LLC priced $20.75 million of trigger autocallable notes due May 17, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus an annualized call premium of 10.35% if the index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless the index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the index from its initial level.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable notes
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| Underlying index: | Russell 2000 index
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| Amount: | $20,753,250
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| Maturity: | May 17, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par unless index finishes below its downside threshold, in which case 1% loss for each 1% decline from initial level
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| Call: | At par plus a 10.35% annualized call premium if index closes at or above initial level on any quarterly observation date after one year
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| Initial index level: | 1,740.849
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| Downside threshold: | 1,218.594; 70% of initial level
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| Pricing date: | May 12
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| Settlement date: | May 17
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| Agents: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 61774W428
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