By Sarah Lizee
Olympia, Wash., April 9 – Morgan Stanley Finance LLC priced $1 million of 0% jump notes with autocallable feature due April 3, 2025 tied to the Morgan Stanley MAP Trend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Beginning on March 2, 2021, the notes will be automatically called at par plus an early redemption premium of 5% per year if the index closes at or above the redemption threshold on any annual determination date other than the final one.
The redemption threshold is 102.75% of the initial index level for the first determination date and steps up by 275 basis points each year.
If the notes have not been called, the payout at maturity will be par plus any index gain. If the index finishes flat or falls, the payout will be par.
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 notes with autocallable feature
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Underlying index: | Morgan Stanley MAP Trend index
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Amount: | $1 million
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Maturity: | April 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if the index finishes flat or falls
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Call: | Beginning on April 1, 2021, automatically at par plus an early redemption premium of 5% per year if the index closes at or above the redemption threshold on any annual determination date other than the final one; redemption threshold is 102.75% of the initial index level for the first determination date and steps up by 275 bps each year
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Initial level: | 226.41
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61770FPV2
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