By William Gullotti
Buffalo, N.Y., Nov. 15 – Morgan Stanley Finance LLC priced $1 million of 0% dual directional jump securities with autocallable feature due Nov. 15, 2028 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be automatically called at par plus an 8.25% annualized call premium if the index closes at or above its initial level on Nov. 13, 2024 or Nov. 10, 2025.
If the index finishes at or above its initial level, the payout at maturity will be par plus the return, subject to a maximum payout of par plus 42.5%.
If the index declines by 25% or less, the payout will be par plus the absolute value of the index’s return.
Otherwise, investors will lose 1% for every 1% that the 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: | Dual directional jump securities with autocallable feature
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| Underlying index: | Nasdaq-100 index
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| Amount: | $1 million
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| Maturity: | Nov. 15, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above initial level, par plus the return, capped at par plus 42.5%; if the index declines by no more than 25%, par plus absolute value of the index’s return; otherwise, 1% loss for every 1% that the index declines from initial level
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| Call: | Automatically at par plus an 8.25% annualized call premium if the index closes at or above initial level on Nov. 13, 2024 or Nov. 10, 2025
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| Initial level: | 15,529.12
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| Downside threshold: | 11,646.84; 75% of initial level
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| Pricing date: | Nov. 10
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| Settlement date: | Nov. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61775MWR3
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