Published on 1/12/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $682,000 buffered autocallable jump notes on Stoxx, iShares
By Kiku Steinfeld
Chicago, Jan. 12 – Morgan Stanley Finance LLC priced $682,000 of 0% buffered jump securities with autocallable feature due April 29, 2025 linked to the Euro Stoxx 50 index and iShares MSCI ACWI ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting April 26, 2024 at a price to give a return of 13.25% per year if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date.
If the worst performing asset finishes above its initial level, the payout at maturity will be par plus 110% of the worst performing asset return. Investors will receive par if the worst performing asset finishes below its initial level but declines by 10% or less and will lose 1% for every 1% that the worst performing asset declines beyond the buffer.
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: | Buffered jump securities with autocallable feature
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| Underlying assets: | Euro Stoxx 50 index and iShares MSCI ACWI ETF
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| Amount: | $682,000
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| Maturity: | April 29, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing asset gains par plus 110% of worst performing asset return; par if worst performing asset declines but by no more than 10% buffer; 1% loss for every 1% that worst performing asset declines beyond the buffer
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| Call: | Automatically starting April 26, 2024 at a price to give a return of 13.25% per year if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $92.21 for iShares MSCI ACWI ETF, 4,401.80 for Euro Stoxx 50
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| Buffer levels: | $82.989 for iShares MSCI ACWI ETF, 3,961.62 for Euro Stoxx 50 index, 90% of initial level
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| Pricing date: | April 25, 2023
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| Settlement date: | April 28, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61774XUK7
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