By Wendy Van Sickle
Columbus, Ohio, April 29 – Morgan Stanley Finance LLC priced $28.12 million of stepdown trigger autocallable notes due April 27, 2029 linked to the least performing of the Euro Stoxx 50 index and the S&P 500 index, 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 a 9.25% annualized if both indexes close above their initial levels on any quarterly observation after one year except the final observation date for which the call level will be equal to the 75% downside threshold.
The notes will be called at par plus the 46.25% final premium if both indexes close above their initial levels on the final call date.
If any index finishes below its downside threshold, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Stepdown trigger autocallable notes
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| Underlying indexes: | Euro Stoxx 50 index and S&P 500 index
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| Amount: | $28,117,000
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| Maturity: | April 27, 2029
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| Coupon: | 0%
|
| Price: | Par of $10
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| Call: | At par plus 9.25% annualized if both indexes close above initial level on any quarterly observation after one year except the final observation date for which the call level will be equal to the downside threshold
|
| Payout at maturity: | Par plus 46.25% unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 5,071.63 for S&P, 4,989.88 for Stoxx
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| Downside thresholds: | 3,803.72 for S&P, 3,742.41 for Stoxx; 75% of initial levels
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| Pricing date: | April 24
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| Settlement date: | April 29
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 617938162
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