Chicago, Oct. 15 – Morgan Stanley Finance LLC priced $2 million of 0% jump securities with autocallable feature due Oct. 2, 2024 linked to the worst performing of the S&P 500 index and the 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 automatically called at par plus 10.25% per year if each index closes at or above its initial level on any semiannual determination date after one year.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be $1,512.50 per $1,000 principal amount of notes.
If the final level of the worst performing index is less than its initial level but greater than or equal to its downside threshold level, 60% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every1% the lesser-performing index declines from its initial level.
Morgan Stanley & Co. LLC is the underwriter.
| 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 indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $2,000,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 10.25% per year if each index closes at or above initial level on any semiannual determination date after one year
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| Payout at maturity: | If each index finishes at or above initial level, $1,512.50 per $1,000 principal amount of notes; if lesser performing index falls by up to 40%, par; otherwise, full exposure to decline of worst performing index
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| Initial levels: | 1,520.476 for Russell, 2,961.79 for S&P
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| Downside thresholds: | 912.286 for Russell, 1,777.074 for S&P; 60% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61769HVZ5
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