By Marisa Wong
Morgantown, W.Va., Feb. 14 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Feb. 2, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the index closes at or above its initial level on any of the first two annual determination dates, the notes will be called at par plus 8% 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 24%.
If the index declines by 35% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.
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
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| Amount: | $1 million
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| Maturity: | Feb. 2, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its initial level, par plus 24%; if index declines by 35% or less, par; otherwise, full exposure to losses
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| Call: | Automatically at par plus 8% per year if index closes at or above its initial level on any of the first two annual determination dates
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| Initial index level: | 2,643.85
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| Downside threshold: | 1,718.503, 65% of initial level
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61768DXP5
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