By Wendy Van Sickle
Columbus, Ohio, May 6 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due May 5, 2025 linked to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 12.75% per year if each index closes at or above its initial level on any annual determination date.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 63.75%.
If the final level of either index is less than its call level but the final level of each index is greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every 1% that the lesser-performing 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: | Jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average and S&P 500
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| Amount: | $1 million
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| Maturity: | May 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to its initial level, par plus 63.75%; if final level of either index is less than its call level but final level of each index is greater than or equal to its downside threshold level, par; otherwise, 1% loss for every 1% that lesser-performing index declines
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| Call: | Automatically at par plus 12.75% per year if each index closes at or above initial level on any annual determination date
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| Initial levels: | 24,633.86 for Dow, 2,939.51 for S&P
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| Downside thresholds: | 17,042.004 for Dow, 2,038.701 for S&P, or 70% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61770FYN0
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