By Taylor Fox
New York, Nov. 23 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Nov. 12, 2025 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 will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 8.52% if each index closes at or above its initial level on any quarterly determination date starting after one year.
At maturity, Investors will receive $1,426 per $1,000 of notes if each index finishes above its initial level.
If the worst performing index declines by up to 30%, the payout will be par.
If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
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 index and S&P 500 index
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| Amount: | $1 million
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| Maturity: | Nov. 12, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 8.52% if each index closes at or above its initial level on any quarterly determination date starting after one year
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| Payout at maturity: | $1,426 per $1,000 of notes if worst performer finishes above initial level; par if the worst performing index declines by up to 30%; otherwise, investors will be fully exposed to the decline of worst performer
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| Initial levels: | 3,509.44 for S&P, 1,644.159 for Russell
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| Downside thresholds: | 2,456.608 for S&P, 1,150.911 for Russell; 70% of initial levels
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.35%
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| Cusip: | 61771EJL3
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