By Wendy Van Sickle
Columbus, Ohio, Sept. 1 – Morgan Stanley Finance LLC priced $598,000 of 0% buffered jump securities with autocallable feature due Sept. 30, 2026 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 6.5% if each index closes at or above its initial level on any annual call date. The redemption level starts at 102% of the initial level and rises by 2% a year.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the return of the least-preforming index.
If the least performing index falls by up to 20%, the payout will be par. Investors will lose 1% for every 1% that the least-performing index declines beyond 20%.
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: | Buffered jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 and Russell 2000
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| Amount: | $598,000
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| Maturity: | Sept. 30, 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 index is greater than or equal to initial level, par plus return of least performing index; par if least performing index falls by up to 20%; otherwise, 1% loss for every 1% that least-performing index declines beyond 20%
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| Call: | Automatically at par plus 6.5% if each index closes at or above redemption level on an annual call date; redemption level starts at 102% of initial level and rises by 2% a year
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| Initial levels: | 1,474.908 for Russell, 11,151.13 for Nasdaq
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| Buffer levels: | 1,179.926 for Russell, 8,920.904 for Nasdaq, or 80% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 61771BY40
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