By William Gullotti
Buffalo, N.Y., June 14 – Morgan Stanley Finance LLC priced $3.29 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due June 3, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized 7.9% call premium if the index closes at or above its initial level on any semiannual determination date after one year.
If the notes are not called and the index finishes at or above its 90% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
|
| Underlying index: | S&P 500 index
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| Amount: | $3,292,000
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| Maturity: | June 3, 2027
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the notes are not called and the index finishes at or above buffer level, par; otherwise, 1% loss for each 1% decline beyond 10%
|
| Call: | At par plus an annualized 7.9% call premium if the index closes at or above its initial level on any semiannual determination date after one year
|
| Initial level: | 4,132.15
|
| Buffer level: | 3,718.935; 90% of initial level
|
| Pricing date: | May 31
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| Settlement date: | June 3
|
| Agents: | Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
|
| Fees: | 2.825%
|
| Cusip: | 61774DFF9
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