By Wendy Van Sickle
Columbus, Ohio, March 19 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Feb. 29, 2024 linked to the least performing of the VanEck Vectors Gold Miners exchange-traded fund and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 18% per year if each asset closes at or above its initial level on any quarterly call observation date after six months.
If the final level of each asset is greater than or equal to its 60% downside threshold level, the payout at maturity will be par plus 54%.
If the final level of any asset is less than its threshold level, investors will lose 1% for every 1% that the least-performing asset 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 assets: | VanEck Vectors Gold Miners ETF, iShares Silver trust
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| Amount: | $250,000
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| Maturity: | Feb. 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each asset is greater than or equal to downside threshold level, par plus 54%; otherwise, 1% loss for every 1% that least-performing asset declines from initial level
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| Call: | Automatically at par plus 18% annualized call premium if each asset closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $24.66 for iShares Silver, $31.13 for Gold Miners
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| Downside thresholds: | $14.796 for iShares Silver, $18.678 for Gold Miners, or 60% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | March 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771EW79
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