By Tali Rackner
Minneapolis, Jan. 29 – Morgan Stanley Finance LLC priced $1.1 million of 0% jump securities with autocallable feature due Jan. 24, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus a premium of 8.55% annualized if each index closes at or above its initial level on any annual review date after one year.
If each index finishes above its initial level, the payout at maturity will be par of $1,000 plus the return of the lesser-performing index
If either index falls by up to its 50% downside threshold, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index.
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: | S&P 500 and Russell 2000
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| Amount: | $1.1 million
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| Maturity: | Jan. 24, 2023
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If each index gains, par plus return of the lesser-performing index; if either index falls by up to 50%, par; otherwise, par plus return of lesser-performing index with 1% loss per 1% decline
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| Call: | At par plus annualized premium of 8.55% if each index closes at or above initial level on any annual review date after one year
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| Initial levels: | 2,810.30 for S&P and 1,597.628 for Russell
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| Downside thresholds: | 1,405.15 for S&P and 798.814 for Russell; 50% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61768CYG6
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