New York, May 13 – Morgan Stanley Finance LLC priced $868,000 of jump securities with autocallable feature due Oct. 3, 2024 linked to the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Oct. 7 at a price to give a return of 11.4% per year if each index closes at or above its call level on any annual call determination date. Call level starts at 100% of initial level and steps down by 5% on each subsequent date.
At maturity the payout will be par plus 34.2% if the worst performing underlier finishes at or above 90% of its initial level.
Investors will receive par if the worst performing index declines up to 25% and will be fully exposed to the decline of worst performing index if it finishes below its 75% downside threshold.
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: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and MSCI Emerging Markets index
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| Amount: | $868,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 34.2% if worst performing index finishes at or above 90% of its initial level; par if worst performing index declines but finishes above 75% downside threshold; otherwise full exposure to decline of worst performing index
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| Call: | Automatically starting Oct. 7 at a price to give a return of 11.4% per year if each index closes at or above its call level on any annual call determination date; call level starts at 100% of initial level and steps down by 5% on each subsequent date
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| Initial levels: | 1,253.10 for MSCI Emerging Markets, 2,204.372 for Russell 2000
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| Downside thresholds: | 939.825 for MSCI Emerging Markets, 1,653.279 for Russell 2000, 75% of initial level
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61773F3F8
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