By Marisa Wong
Morgantown, W.Va., July 2 – Morgan Stanley Finance LLC priced $15 million of 0% jump securities with autocallable feature due June 26, 2028 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus an early redemption premium of 9.3% per year if the index closes at or above its initial level on any annual determination date other than the final date.
If the notes have not been called and the index finishes at or above its initial level, the payout at maturity will be par plus 93%. If the index falls, the payout will be par plus the index return with full exposure to losses.
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 index: | S&P 500
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| Amount: | $15 million
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| Maturity: | June 26, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index finishes at or above its initial level, par plus 93%; if the index falls, par plus the index return with full exposure to losses
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| Call: | Automatically at par plus an early redemption premium of 9.3% per year if the index closes at or above its initial level on any annual determination date other than the final date
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| Initial index level: | 2,749.76 (closing index level on June 21)
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768C5P8
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