By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Morgan Stanley Finance LLC priced $1.01 million of contingent income buffered autocallable securities due Jan. 3, 2024 linked to the lesser performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at an annualized rate of 9% if each index closes at or above its coupon threshold level, 80% of its initial level, on the determination date for that month.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly early redemption determination date.
If the final level of each index is greater than or equal to 80% of its initial level, the payout at maturity will be par plus the last contingent coupon. Otherwise, investors will lose 1.25% for every 1% that the lesser-performing index declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Contingent income buffered autocallable securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1.01 million
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| Maturity: | Jan. 3, 2024
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| Coupon: | 9% annual rate if each index closes at or above coupon barrier level on monthly determination date
|
| Price: | Par
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| Call: | At par if each index closes at or above its initial level on any quarterly early redemption determination date
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| Payout at maturity: | If final level of each index is greater than or equal to 80% of initial level, par plus contingent coupon; otherwise, 1.25% loss for every 1% that lesser-performing index declines beyond 20%
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| Initial index levels: | 30,403.97 for Dow, 1,996.25 for Russell and 12,838.86 for Nasdaq
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| Coupon threshold levels: | 24,323.176 for Dow, 1,597.00 for Russell and 10,271.088 for Nasdaq; 80% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61771EWC8
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