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Maturity date*
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December 2, 2027
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Starting level
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For each underlying, the closing level on the pricing date
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Ending level
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For each underlying, the closing level on the final calculation day.
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Lowest performing underlying
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The underlying with the lowest performance factor
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Performance factor
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With respect to each underlying, the ending level divided by the starting level
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Threshold level
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75% of the starting level for each underlying
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Calculation agent
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Morgan Stanley & Co. LLC, an affiliate of the issuer and the guarantor
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Denominations
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$1,000 and any integral multiple of $1,000
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Agent discount
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Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC will act as the agents for this offering. Wells Fargo Securities, LLC will receive a commission of up to $25.75 for each security it sells. Dealers, including Wells Fargo Advisors (“WFA”), may receive a selling concession of up to $20.00 per security, and WFA may receive a distribution expense fee of $0.75 for each security sold by WFA.
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CUSIP
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61776WW82
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Tax considerations
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See preliminary pricing supplement
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Hypothetical Payout Profile***
***assumes a call premium equal to the lowest possible call premium that may be determined on the pricing date
If the securities are not automatically called and the ending level of any underlying on the final calculation day is less than its respective threshold level, you will lose more than 25%, and possibly all, of the face amount of your securities at the maturity date.
Any positive return on the securities will be limited to the applicable call premium, even if the closing level of the lowest performing underlying on the applicable calculation day significantly exceeds its starting level. You will not participate in any appreciation of the underlyings.
The face amount of each security is $1,000. This price includes costs associated with issuing, selling, structuring and hedging the securities, which are borne by you, and, consequently, the estimated value of the securities on the pricing date will be less than $1,000 per security. We estimate that the value of each security on the pricing date will be approximately $953.90, or within $30.00 of that estimate. Our estimate of the value of the securities as determined on the pricing date will be set forth in the final pricing supplement. See “Estimated Value of the Securities” in the accompanying preliminary pricing supplement for further information.
This document provides a summary of the terms of the securities. Investors should carefully review the accompanying preliminary pricing supplement referenced below, product supplement for principal at risk securities, index supplement and prospectus, and the “Selected risk considerations” on the following page, before making a decision to invest in the securities.
Preliminary pricing supplement:
https://www.sec.gov/Archives/edgar/data/895421/000183988224040765/ms5033_424b2-23985.htm
*subject to change
** In addition, selected dealers may receive a fee of up to 0.3% for marketing and other services.
The securities have complex features and investing in the securities involves risks not associated with an investment in ordinary debt securities. See “Selected risk considerations” in this term sheet and “Risk Factors” in the accompanying preliminary pricing supplement. All payments on the securities are subject to our credit risk.
This introductory term sheet does not provide all of the information that an investor should consider prior to making an investment decision.
The securities are not deposits or savings accounts and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality, nor are they obligations of, or guaranteed by, a bank.