By Sarah Lizee
Olympia, Wash., Aug. 13 – Morgan Stanley Finance LLC priced $288,000 of 0% dual directional jump securities with autocallable feature due Aug. 3, 2023 linked to the worst performing of the Russell 2000 index and the S&P 500 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 9.5% per year if each index closes at or above its call level on any annual call date. The call level for each index will be its initial level.
If each index finishes at or above its initial level, the payout will be par plus the return of the least performing index.
If any index falls by up to 30%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to the decline of the least performing 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: | Dual directional jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $288,000
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| Maturity: | Aug. 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 9.5% per year if each index closes at or above call level on any annual call date; call level for each index will initial level
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| Payout at maturity: | If each index finishes at or above its initial level, par plus the return of the least performing index; if any index falls by up to 30%, par plus the absolute value of the return of the lesser performing index; otherwise, investors will be exposed to the decline of the least performing index
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| Initial levels: | 3,271.12 for S&P, 1,480.427 for Russell
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| Barrier levels: | 2,289.784 for S&P, 1,036.299 for Russell; 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771BSE5
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