By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Morgan Stanley Finance LLC priced $295,000 of 0% buffered jump securities with autocallable feature due Oct. 31, 2024 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 will be automatically called at par plus 7.5% 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 its initial level, the payout at maturity will be par plus 37.5%.
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 buffer level, 85% of its initial level, the payout will be par.
If the final level of either index is less than its buffer level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
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: | Buffered jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $295,000
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| Maturity: | Oct. 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to its initial level, par plus 37.5%; if final level of either index is less than its initial level but final level of each index is greater than or equal to its buffer level, par; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 15%
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| Call: | Automatically at par plus 7.5% per year if each index closes at or above initial level on any annual determination date
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| Initial levels: | 27,090.72 for Dow and 1,571.933 for Russell 2000
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| Buffer levels: | 23,027.112 for Dow and 1,336.143 for Russell 2000, or 85% 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: | 4%
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| Cusip: | 61769HA70
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