By Wendy Van Sickle
Columbus, Ohio, Dec. 31 – Morgan Stanley Finance LLC priced $1.06 million of 0% jump securities with autocallable feature due Dec. 30, 2024 linked to the lesser 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 will be automatically called at par plus 8.5% 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 call threshold level, the payout at maturity will be par plus 42.5%.
If the final level of either index is less than its call threshold level but the final level of each index is greater than or equal to its downside threshold, 60% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold, investors will lose 1% for every 1% that the lesser-performing index 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 indexes: | S&P 500 and Russell 2000
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| Amount: | $1,056,000
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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 index is greater than or equal to its call threshold level, par plus 42.5%; if final level of either index is less than its call threshold level but final level of each index is greater than or equal to its downside threshold, par; otherwise, 1% loss for every 1% decline of lesser-performing index
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| Call: | Automatically at par plus 8.5% per year if each index closes at or above initial threshold level on any semiannual determination date after one year
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| Initial levels: | 1,678.01 for Russell, 3,223.38 for S&P
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| Downside threshold levels: | 1,006.806 for Russell, 1,934.028 for S&P; 60% 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: | 0.75%
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| Cusip: | 61769H6A8
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