By Kiku Steinfeld
Chicago, Nov. 20 – Morgan Stanley Finance LLC priced $2.09 million of 0% 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 7.25% per year if each index closes at or above its call threshold level, 95% of 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 call threshold level, the payout at maturity will be par plus 36.25%.
If the final level of either index is less than its call threshold level but the final level of each index is greater than or equal to its downside threshold, 70% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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: | Jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $2,093,000
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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 call threshold level, par plus 36.25%; if final level of either index is less than its call threshold level but final level of each index is greater than or equal to its downside threshold, par; otherwise, 1% loss for every 1% decline of lesser-performing index
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| Call: | Automatically at par plus 7.5% per year if each index closes at or above call threshold level on any annual determination date
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| Initial levels: | 1,571.933 for Russell, 27,090.72 for Dow
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| Call threshold levels: | 1,493.336 for Russell, 25,736.184 for Dow; 95% of initial levels
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| Downside threshold levels: | 1,100.353 for Russell, 518,963.504 for Dow; 70% 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: | 4.025%
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| Cusip: | 61769HYY5
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