By Angela McDaniels
Tacoma, Wash., Dec. 9 – Morgan Stanley Finance LLC priced $6.75 million of 0% jump securities with autocallable feature due Dec. 10, 2024 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10.24% per year if each index closes at or above its redemption threshold level on any quarterly determination date. For each index, the redemption threshold level is equal to its initial level on the first through fourth determination dates and 95% of its initial level for the fifth through 19th determination dates.
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 51.2%.
If the final level of either index is less than 95% of 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.
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: | Russell 2000 and Euro Stoxx 50
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Amount: | $6.75 million
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Maturity: | Dec. 10, 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 95% of initial level, par plus 51.2%; if final level of either index is less than 95% of 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 10.24% per year if each index closes at or above redemption threshold level on any quarterly determination date
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Initial levels: | 1,614.833 for Russell 2000 and 3,648.13 for Euro Stoxx 50
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Redemption thresholds: | Equal to initial level on first through fourth determination dates and 95% of initial level for the fifth through 19th determination dates (1,534.091 for Russell 2000 and 3,465.724 for Euro Stoxx 50)
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Downside thresholds: | 1,130.383 for Russell 2000 and 2,553.691 for Euro Stoxx 50, or 70% of initial levels
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Pricing date: | Dec. 5
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Settlement date: | Dec. 10
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.85%
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Cusip: | 61769H3U7
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