By Wendy Van Sickle
Columbus, Ohio, March 12 – Morgan Stanley Finance LLC priced $1.27 million of 0% autocallable securities with upside participation feature due March 3, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an 11% annualized premium if the index closes at or above its initial level on any annual call valuation date.
If the notes are not called prior to maturity and the index has not declined, the payout at maturity will be par plus the greater of the 30% premium applicable to the final valuation date and the index return. If the index falls by up to 25% of its initial level, the payout will be par. Otherwise, investors will be exposed to any losses of the index beyond 25%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Autocallable securities with upside participation feature
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| Underlying index: | Euro Stoxx 50
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| Amount: | $1,265,000
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| Maturity: | March 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 11% annualized premium if index closes at or above initial level on any annual call valuation date
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| Payout at maturity: | If index has not declined from initial level, par plus greater of index return and 30%; par if index declines by up to 25%; 1% loss for every 1% decline beyond 25%
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| Initial level: | 3,557.68
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| Buffer level: | 2,683.26, 75% of initial level
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.35%
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| Cusip: | 61770FMT0
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