Chicago, May 10 – Morgan Stanley Finance LLC priced $2.84 million of 0% jump securities with autocallable feature due March 27, 2024 tied to the worst performing of the common stocks of American Airlines Group Inc., Apple Inc. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be redeemed at par plus an annualized call premium of 25% if all three stocks close above their 85% call thresholds on the related quarterly observation date.
At maturity, if all stocks finish above their 85% call levels, the payout will be par plus 75%.
If any stock finishes below its call level but each stock finishes above its 65% downside threshold level, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying stocks: | American Airlines Group Inc., Apple Inc. and Citigroup Inc.
|
| Amount: | $2,836,000
|
| Maturity: | March 27, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all stocks finish above call levels, par plus 75%; par if any stock finishes below call level but all stocks finish above downside threshold levels; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus 25% annualized premium if all stocks close above call threshold levels on any quarterly observation date
|
| Initial levels: | $23.83 for AA, $123.39 for Apple, $71.96 for Citigroup
|
| Call levels: | $20.256 for AA, $104.882 for Apple, $61.166 for Citigroup, 85% of initial levels
|
| Downside threshold levels: | $15.49 for AA, $80.204 for Apple, $46.774 for Citigroup, 65% of initial levels
|
| Pricing date: | March 22
|
| Settlement date: | March 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61771VMH0
|
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