By Wendy Van Sickle
Columbus, Ohio, March 12 – Morgan Stanley Finance LLC priced $18.4 million of 0% jump securities with autocallable feature due March 12, 2026 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10% a year if the index closes at or above its initial level on an quarterly determination date after one year.
If the notes are not called and the final level of the index is greater than or equal to its initial level, the payout at maturity will be par plus 50%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
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 index: | MSCI Emerging Markets
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| Amount: | $18.4 million
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| Maturity: | March 12, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of the index is greater than or equal to its initial level, par plus 50%; if index falls by up to 30%, par; otherwise, 1.25% loss for every 1% that index declines beyond 20%
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| Call: | Automatically at par plus 10% a year if the index closes at or above initial level on an quarterly determination date after one year
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| Initial level: | 1,317.85
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| Buffer level: | $96.208, 80% of initial level
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| Pricing date: | March 9
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| Settlement date: | March 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61771VJT8
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