Chicago, Nov. 1 – Morgan Stanley Finance LLC priced $1.09 million of 0% trigger jump securities due March 30, 2026 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called early at par plus an annual 11% premium if each asset finishes above its initial level on any quarterly early redemption date starting after one year.
At maturity, if each asset finishes at or above its initial level, the payout will be par plus 55%.
If any asset falls by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Trigger jump securities
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| Underlying assets: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
|
| Amount: | $1,085,000
|
| Maturity: | March 30, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above initial level, par plus 55%; if any asset falls by up to 30%, par; otherwise, exposure to decline of worst performing asset
|
| Call: | If both assets finish above initial level on any quarterly early redemption date starting after one year, the notes will be called at par plus an annual 11% premium
|
| Initial levels: | $51.92 for EM, 3,832.57 for Stoxx
|
| Downside threshold levels: | $36.344 for EM, 2,682.799 for Stoxx; 70% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.35%
|
| Cusip: | 61771VND8
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