By Sarah Lizee
Olympia, Wash., July 31 – Morgan Stanley Finance LLC priced $1.41 million of 0% buffered jump securities with autocallable feature due Feb. 2, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 6.25% per year if the index closes at or above its call level on any annual determination date. The call level will be 100% of the initial level.
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 2 times the return of the index.
If the final level of the index is less than its initial level but the final level of each index is greater than or equal to its buffer level, 90% of its initial level, the payout will be par.
If the final level of the index is less than its buffer level, investors will lose 1% for every 1% that the index declines beyond 10%.
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: | Buffered jump securities with autocallable feature
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Underlying index: | Dow Jones industrial average
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Amount: | $1,409,000
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Maturity: | Feb. 2, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of index is greater than or equal to its initial level, par plus 2 times return of index; if final level of index is less than its initial level but final level is greater than or equal to its buffer level, par; otherwise, 1% loss for every 1% that index declines beyond 10%
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Call: | Automatically at par plus 6.25% per year if each index closes at or above call level on any annual determination date
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Call level: | 100% of initial level
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Initial level: | 26,379.28
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Buffer level: | 23,741.352, or 90% of initial level
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61771BUR3
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