Chicago, Sept. 15 – Morgan Stanley Finance LLC priced $2.77 million of jump securities with autocallable feature due Sept. 3, 2026 linked to the worst performing of the Dow Jones industrial average and the Consumer Staples Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting March 4, 2024 at a price to give a return of 8.1% per year on any quarterly call determination date if both assets close above their redemption threshold levels. The redemption threshold level is 100% for the first three dates, 95% for the next three and then 90%.
At maturity the payout will be par plus 24.3% if the worst performing underlier finishes above 90% of its initial level.
Investors will receive par if the worst performer finishes between 80% and 90% of its initial level.
Investors will be fully exposed to the decline of worst performing asset if it finishes below its 80% trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying assets: | Dow Jones industrial average and Consumer Staples Select Sector SPDR Fund
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| Amount: | $2,773,000
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| Maturity: | Sept. 3, 2026
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus 24.3% if worst performing asset finishes above its 90% downside threshold level; par if worst performing asset declines more than 10% but finishes above 80% trigger level; otherwise, full exposure to decline of worst performing asset
|
| Call: | Automatically starting March 4, 2024 at a price to give a return of 8.1% per year on any quarterly call determination date if both assets close above redemption threshold levels; redemption threshold level is 100% for first three dates, 95% for next three and then 90%
|
| Initial levels: | 34,721.91 for Dow, $72.76 for Fund
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| Downside thresholds: | 27,777.528 for Dow, $58.208 for Fund, 80% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61775HB30
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