By Angela McDaniels
Tacoma, Wash., April 25 – Morgan Stanley Finance LLC priced $20 million 0% jump securities with autocallable feature due April 26, 2029 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.
Beginning April 30, 2020, the notes will be automatically called at par plus 9.05% per year if the index closes at or above its initial level on any annual determination date.
If the notes are not called and the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 90.5%. If the final index level is less than the initial index level, investors will be exposed to the index’s decline.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying index: | S&P 500
|
| Amount: | $20 million
|
| Maturity: | April 26, 2029
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 90.5% if final index level is greater than or equal to initial index level; otherwise, 1% loss for every 1% that index declines from initial level
|
| Call: | Beginning April 30, 2020, notes will be automatically called at par plus 9.05% per year if index closes at or above initial level on any annual determination date
|
| Initial level: | 2,933.68
|
| Pricing date: | April 23
|
| Settlement date: | April 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61768Y182
|
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