By Kiku Steinfeld
Chicago, Dec. 19 – Morgan Stanley Finance LLC priced $717,000 of jump securities with autocallable feature due April 24, 2025 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 9.55% per year if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par plus 19.1% if the worst performing underlier finishes above its initial level.
The payout will be par if the index declines but finishes above its 80% trigger level and investors will be fully exposed to the decline of the index if it finishes below its 80% trigger level.
The notes are guaranteed by Morgan Stanley.
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 index: | S&P 500 index
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| Amount: | $717,000
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| Maturity: | April 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 19.1% if index finishes above its initial level; par if index declines but finishes above its 80% trigger level; otherwise full exposure to decline of index
|
| Call: | Automatically at a price to give a return of 9.55% per year if the level of the underlying index is greater than or equal to its initial level on any quarterly call determination date
|
| Initial level: | 4,133.52
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| Downside threshold: | 3,306.816, 80% of initial level
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.2%
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| Cusip: | 61774XRK1
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