Published on 2/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $8.8 million autocallable jump securities linked to Dow, Russell
New York, Feb. 28 – Morgan Stanley Finance LLC priced $8.8 million of jump securities with autocallable feature due Feb. 26, 2027 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Feb. 24, 2023 at a price to give a return of 12.28% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
If each index finishes at or above its initial level, the payout at maturity will be par plus 61.4%. If the final level of either index is less than its initial level but the final level of each index is greater than or equal to its downside threshold level, the payout will be par. Otherwise, investors will be exposed to the decline of the lesser performing index from its initial level.
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: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $8,801,000
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| Maturity: | Feb. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 61.4%; if final level of either index is less than initial level but final level of each index is greater than or equal to downside threshold level, par; otherwise, full exposure to decline of lesser performing index
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| Call: | Automatically starting Feb. 24, 2023 at a price to give a return of 12.28% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 33,131.76 for Dow Jones industrial average, 1,944.092 for Russell 2000 index
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| Downside thresholds: | 23,192.232 for Dow Jones industrial average, 1,360.864 for Russell 2000 index, 70% of initial level
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61773QDL0
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