By Sarah Lizee
Olympia, Wash., April 22 – Morgan Stanley Finance LLC priced $298,000 of 0% jump notes with autocallable feature due April 22, 2027 tied to the Morgan Stanley MAP Trend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Beginning on April 20, 2021, the notes will be automatically called at par plus an early redemption premium of 8.5% per year if the index closes at or above the redemption threshold on any annual determination date other than the final one.
The redemption threshold is 103.5% of the initial index level for the first determination date and steps up by 350 basis points each year.
If the notes have not been called, the payout at maturity will be par plus any index gain. If the index finishes flat or falls, the payout will be par.
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 notes with autocallable feature
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Underlying index: | Morgan Stanley MAP Trend index
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Amount: | $298,000
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Maturity: | April 22, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if the index finishes flat or falls
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Call: | Beginning on April 20, 2021, automatically at par plus an early redemption premium of 8.5% per year if the index closes at or above the redemption threshold on any annual determination date other than the final one; redemption threshold is 103.5% of the initial index level for the first determination date and steps up by 350 bps each year
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Initial level: | 229.54
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Pricing date: | April 17
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Settlement date: | April 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.625%
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Cusip: | 61770FD52
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