By Wendy Van Sickle
Columbus, Ohio, May 12 – Morgan Stanley Finance LLC priced $1.12 million of 0% jump securities with autocallable feature due April 28, 2026 linked to the least performing of the Dow Jones industrial average and the iShares MSCI Brazil ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 12% a year if each asset closes at or above its initial level on any quarterly observation date after one year.
If the final level of each asset is greater than or equal to its initial level, the payout at maturity will be par plus 60%.
If the final level of any asset is less than its call level but the final level of each asset is greater than or equal to its 50% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing asset declines.
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: | Dow Jones industrial average, iShares MSCI Brazil ETF
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| Amount: | $1,118,000
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| Maturity: | April 28, 2026
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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 initial level, par plus 60%; if final level of any asset is less than call level but final level of each asset is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least-performing asset declines
|
| Call: | Automatically at par plus 12% a year if each asset closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | $35.54 for iShares MSCI Brazil, 34,043.49 for Dow
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| Barrier levels: | $17.77 for iShares MSCI Brazil, 17,021.745 for Dow; 50% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.35%
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| Cusip: | 61771VB58
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