By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Morgan Stanley Finance LLC priced $856,000 of 0% jump securities with autocallable feature due Dec. 30, 2024 linked to the lesser performing of the S&P 500 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 11.56% per year if each asset closes at or above its initial level, on any quarterly determination date after one year.
If the notes are not called and the final level of each asset is greater than or equal to its call threshold level, the payout at maturity will be par plus 41.6%.
If the final level of either asset is less than its call threshold level but the final level of each asset is greater than or equal to its downside threshold, 70% of its initial level, the payout will be par.
If the final level of either asset is less than its downside threshold, investors will lose 1% for every 1% that the lesser-performing asset declines from its initial 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 assets: | S&P 500 and iShares MSCI Emerging Markets ETF
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| Amount: | $856,000
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| Maturity: | Dec. 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each asset is greater than or equal to its call threshold level, par plus 41.6%; if final level of either asset is less than its call threshold level but final level of each asset is greater than or equal to its downside threshold, par; otherwise, 1% loss for every 1% decline of lesser-performing asset
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| Call: | Automatically at par plus 11.56% per year if each asset closes at or above initial threshold level on any quarterly determination date after one year
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| Initial levels: | $44.57 for ETF, 3,223.38 for S&P
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| Downside threshold levels: | $31.199 for ETF, 2,256.366 for S&P; 70% of initial levels
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| Pricing date: | Dec. 24
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| Settlement date: | Dec. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.35%
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| Cusip: | 61769H5Y7
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