Published on 12/9/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 autocallable jump securities on indexes
By Kiku Steinfeld
Chicago, Dec. 9 – Morgan Stanley Finance LLC priced $250,000 of jump securities with autocallable feature due April 3, 2025 linked to S&P 500 index, 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 Sept. 30, 2022 at 10% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any semiannual determination date.
At maturity the payout will be par plus 30% if the worst performing underlier finishes above 95% of its initial level.
The payout will be par if worst performing index finishes below 95% of its initial level but above its 70% trigger level. Investors will be fully exposed to the decline of worst performing index if it finishes below its 70% trigger 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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $250,000
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Maturity: | April 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 30% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 95% of its initial level but above 70% trigger level; otherwise full exposure to decline of worst performing index
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Call: | Automatically starting Sept. 30, 2022 at 10% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any semiannual determination date
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Initial levels: | 34,678.35 for Dow, 2,070.125 for Russell, 4,530.41 for S&P
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Downside thresholds: | 24,274.845 for Dow, 1,449.088 for Russell, 3,171.287 for S&P, 70% of initial level
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Call threshold: | 32,944.433 for Dow, 1,966.619 for Russell, 4,303.890 for S&P, 95% of initial levels
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61773QGR4
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