By Taylor Fox
New York, Nov. 16 – Morgan Stanley Finance LLC priced $1.08 million of autocallable securities with upside participation feature due Nov. 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index closes at or above the initial index level on any of the five annual determination dates, the notes will be redeemed at par plus a premium of 8.05% per year.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the index return and 25%.
Investors will receive par if the index falls by up to 25%. Otherwise, investors will be fully exposed to the losses of the index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Autocallable securities with upside participation feature at maturity
|
| Underlying index: | S&P 500
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| Amount: | $1,080,000
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| Maturity: | Nov. 2, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above initial level, par plus the greater of the index return and 25%; par if the index falls by up to 25%; otherwise full exposure to losses
|
| Call: | If the index closes at or above the initial index level on any of the five annual determination dates, notes will be redeemed at par plus a premium of 8.05% per year
|
| Initial level: | 3,271.03
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| Threshold level: | 2,453.273, 75% of initial level
|
| Pricing date: | Oct. 28
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| Settlement date: | Oct. 30
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 61771EDS4
|
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