New Issue: Morgan Stanley sells $2.72 million jump autocallables on three indexes

By Marisa Wong

Morgantown, W.Va., June 13 – Morgan Stanley Finance LLC priced $2.72 million of 0% jump securities with autocallable feature due June 3, 2025 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will be called at par plus an annual premium of 10.65% if each index closes at or above the call threshold on any annual review date. The call threshold is 92% of the initial level for the first three determination dates and 98% of the initial level for the fourth and fifth dates.

The payout at maturity will be par plus 63.9% if each index finishes at or above 98% of its initial level. If the worst performing index declines by no more than 25%, the payout will be par. If the worst performing index finishes below its 75% downside threshold level, investors will be fully exposed to the decline of that index.

Morgan Stanley & Co. LLC is the underwriter.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Jump securities with autocallable feature
Underlying indexes:	S&P 500 index, Dow Jones industrial average and Russell 2000 index
Amount:	$2,722,000
Maturity:	June 3, 2025
Coupon:	0%
Price:	Par
Call:	At par plus 10.65% a year if each index closes at or above call threshold on any annual review date
Payout at maturity:	If each index finishes at or above 98% of initial level, par plus 63.9%; if worst performing index falls by up to 25%, par; otherwise, full exposure to decline of worst performing index
Initial levels:	2,826.06 for S&P, 25,585.69 for Dow, 1,514.109 for Russell
Call thresholds:	2,599.975 for S&P, 23,538.835 for Dow, 1,392.980 for Russell, 92% of initial levels for first three determination dates; 2,769.539 for S&P, 25,073.976 for Dow, 1,483.827 for Russell, 98% of initial levels for fourth and fifth dates
Downside thresholds:	2,119.545 for S&P, 19,189.268 for Dow, 1,135.582 for Russell; 75% of initial levels
Pricing date:	May 24
Settlement date:	June 3
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61769HBK0

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