By Kiku Steinfeld
Chicago, March 8 – Morgan Stanley Finance LLC priced $625,000 of jump securities with autocallable feature due June 25, 2026 linked to common stocks of Occidental Petroleum Corp., Raytheon Technologies Corp. and Visa Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting June 26, 2024 at a price to give a return of 21.3% per year if the price of each underlying stock is greater than or equal to 90% of its initial price on any quarterly call determination date.
At maturity the payout will be par plus 63.9% if the worst performing stock finishes at or above 90% call level. If the worst performing stock finishes below call level but at or above 60% of its initial share price, investors will receive par.
Otherwise investors will be fully exposed to the decline of the worst performing index.
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 stocks: | Occidental Petroleum Corp., Raytheon Technologies Corp. and Visa Inc.
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| Amount: | $625,000
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| Maturity: | June 25, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 63.9% if the worst performing stock finishes above 90% call level; par if worse performer finishes below call level but above trigger level; otherwise full exposure to the decline of the worst performing stock
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| Call: | Automatically starting June 26, 2024 at a price to give a return of 21.3% per year if the price of each underlying stock is greater than or equal to 90% of its initial price on any quarterly call determination date
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| Initial levels: | $56.52 for Occidental Petroleum, $96.92 for Raytheon Technologies, $228.39 for Visa
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| Trigger levels: | $33.912 for Occidental Petroleum, $58.152 for Raytheon Technologies, $137.034 for Visa
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| Pricing date: | June 26, 2023
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| Settlement date: | June 29, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61775HCE5
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