By Wendy Van Sickle
Columbus, Ohio, April 12 – Morgan Stanley Finance LLC priced $1.54 million of 0% jump notes with autocallable feature due April 12, 2023 linked to an equally weighted basket of the Euro Stoxx Banks index, the SPDR S&P Regional Banking exchange-traded fund and the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.25% if the basket closes at or above its initial level on any quarterly determination date after one year.
If the basket finishes at or above its initial level, the payout at maturity will be $1,512.50 per $1,000 principal amount.
If the basket falls by up to the 71.43% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the basket.
The notes will be 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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| Basket components: | Euro Stoxx Banks index, SPDR S&P Regional Banking exchange-traded fund and SPDR S&P Bank exchange-traded fund, equal weights
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| Amount: | $1.54 million
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| Maturity: | April 12, 2023
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If basket gains, par plus 51.25%; if basket falls by up to 28.57%, par; otherwise, par plus return of basket with 1% loss per 1% decline
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| Call: | At par plus annualized premium of 10.25% if basket closes at or above initial level on any quarterly review date after one year
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| Initial levels: | 127.68 for index, $61.12 for Regional Banking ETF, $48.40 for Bank ETF
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| Pricing date: | April 5
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| Settlement date: | April 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 61768CS99
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