By Wendy Van Sickle
Columbus, Ohio, March 26 – Morgan Stanley Finance LLC priced $5.19 million of 0% step-down trigger autocallable notes due March 24, 2026 linked to the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
After one year, the notes will be automatically called at par of $10 plus 7.52% per year if each asset closes at or above its initial level on any quarterly observation date, except the final one when the call threshold will be the 70% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and Morgan Stanley are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Euro Stoxx 50 index and MSCI Emerging Markets index
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| Amount: | $5.19 million
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| Maturity: | March 24, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | After one year, at par plus 7.52% per year if each asset closes at or above its initial level on any observation date except the final one, when the call level will be the downside threshold
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| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
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| Initial levels: | 1,366.84 for MSCI Emerging Markets, 3,837.02 for Euro Stoxx 50
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| Downside thresholds: | 935.79 for MSCI Emerging Markets, 2,685.91 for Euro Stoxx 50, 70% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
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| Agents: | UBS Financial Services Inc. and Morgan Stanley
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| Fees: | 2.5%
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| Cusip: | 61771U656
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