By Sarah Lizee
Olympia, Wash., Feb. 25 – Morgan Stanley Finance LLC priced $2.37 million of 0% jump securities with autocallable feature due Feb. 24, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus a 7% call premium per year if the index closes at or above its initial level on any annual determination date, excluding the final determination date.
If the notes are not called and the final index level is greater than or equal to its initial level, the payout at maturity will be par plus 21%.
If the index falls by up to 20%, the payout will be par.
If the index falls by more than 20%, investors will lose 1% for every 1% decline of the index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying index: | S&P 500
|
| Amount: | $2,365,000
|
| Maturity: | Feb. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to initial level, par plus 21%; if the index falls by up to 20%, par; if the index falls by more than 20%, 1% loss for every 1% decline
|
| Call: | Automatically at par plus 7% per year if index closes at or above initial level on any annual determination date and excluding the final determination date
|
| Initial level: | 3,370.29
|
| Barrier level: | 2,696.232, 80% of initial level
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 21
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61770FHV1
|
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