By Wendy Van Sickle
Columbus, Ohio, Feb. 11 – Morgan Stanley Finance LLC priced $1.62 million of 0% jump securities with autocallable feature due Feb. 1, 2024 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 19% a year if the ETF closes at or above its initial level on an quarterly determination date after six months.
If the notes are not called and the final level of the ETF is greater than or equal to its initial level, the payout at maturity will be par plus 57%.
If the ETF falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the ETF 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 ETF: | ARK Innovation
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| Amount: | $1.62 million
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| Maturity: | Feb. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of the ETF is greater than or equal to its initial level, par plus 57%; if ETF falls by up to 30%, par; otherwise, 1% loss for every 1% that ETF declines from initial level
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| Call: | Automatically at par plus 19% a year if the ETF closes at or above initial level on an quarterly determination date after six months
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| Initial level: | $137.44
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| Downside threshold: | $96.208, 70% of initial level
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771EU63
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