By Sarah Lizee
Olympia, Wash., Oct. 31 – Morgan Stanley Finance LLC priced $1.06 million of 0% jump securities with autocallable feature due Nov. 2, 2022 linked to the worst performing of the Nasdaq-100 index 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 10.25% per year if each index closes at or above its call level on any annual determination date. The call level for each index will be 100% of its initial level for the first determination date and 95% of its initial level for the last determination date.
The payout at maturity will be par plus 30.75% if each index finishes at or above 90% of its initial level. If the worst performing index declines by no more than 25%, the payout will be par. If the worst performing index finishes below its 75% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the underwriter.
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: | Nasdaq-100 index and Russell 2000 index
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Amount: | $1.06 million
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Maturity: | Nov. 2, 2022
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Coupon: | 0%
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Price: | Par
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Call: | Automatically called at par plus 10.25% per year if each index closes at or above its call level on any annual determination date; call level for each index will be 100% of its initial level for the first determination date and 95% of its initial level for the last determination date
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Payout at maturity: | Par plus 30.75% if each index finishes at or above 90% of its initial level; if the worst performing index declines by no more than 25%, par; if the worst performing index finishes below its 75% downside threshold level, investors will be fully exposed to the decline of that index
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Initial levels: | 1,571.933 for Russell, 8,110.669 for Nasdaq
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Downside thresholds: | 1,178.950 for Russell, 6,083.002 for Nasdaq; 75% of initial levels
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Pricing date: | Oct. 28
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Settlement date: | Oct. 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61769HB61
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