By Wendy Van Sickle
Columbus, Ohio, March 1 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due March 2, 2022 linked to the lesser performing of the Dow Jones industrial average and 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 8.5% per year if each index closes at or above its initial level on any annual determination date.
If the notes are not called and the final level of each index is greater than or equal to 95% of its initial level, the payout at maturity will be par plus 25.5%.
If the final level of either index is less than its initial level but the final level of each index is greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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 and Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | March 2, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and final level of each index is greater than or equal to initial level, par plus 25.5%; if final level of either index is less than initial level but final level of each index is greater than or equal to downside threshold level, par; if final level of either index is less than downside threshold level, 1% loss for every 1% that lesser-performing index declines from initial level
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| Call: | Automatically at par plus 8.5% per year if each index closes at or above 95% of initial level on any annual determination date
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| Initial levels: | 26,091.95 for Dow, 1,588.805 for Russell
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| Downside thresholds: | 18,264.365 for Dow, 1,112.164 for Russell; 70% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61768DK95
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