By Taylor Fox
New York, Sept. 1 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Feb. 28, 2024 linked to the worst performing of the ARK Genomic Revolution ETF and the ARK Innovation ETF, 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 annual premium of 14.5% if each fund closes at or above its initial level on any semiannual observation date.
If both funds finish above their initial values, investors will receive $1,435 per $1,000 of notes at maturity.
If the worst performing fund finishes above 60% of its initial level, investors will receive par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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 funds: | ARK Genomic Revolution ETF and the ARK Innovation ETF
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| Amount: | $250,000
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| Maturity: | Feb. 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 14.5% if each fund closes at or above its initial level on any semiannual observation date
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| Payout at maturity: | $1,435 per $1,000 of notes if both funds finish above initial levels; par if worst performer finishes above 60% of initial level; otherwise, full exposure to losses of worst performer
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| Initial levels: | $98.64 for ARK Genomic and $139.04 for ARK Innovation
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| Downside threshold levels: | $59.184 for ARK Genomic and $83.424 for ARK Innovation; 60% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771E7G7
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