Published on 4/29/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.32 million autocallable jump securities on index, ETF
By Kiku Steinfeld
Chicago, April 29 – Morgan Stanley Finance LLC priced $1.32 million of jump securities with autocallable feature due Oct. 1, 2026 linked to Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 29, 2022 at 8% per year on any semi-annual determination date if each underlier closes at or above its initial level.
At maturity the payout will be par plus 40% if the worst performing underlier finishes at or above 85% of its initial level. If the worst performer falls below 85% but not below 65% of its initial level, the payout will be par.
Investors will be fully exposed to the decline of worst performing asset if it finishes below 65%.
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 assets: | Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
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| Amount: | $1,324,000
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| Maturity: | Oct. 1, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 40% if worst performing asset finishes at or above 85% of initial level; par if worst performing asset declines below 85% but finishes at or above 65%; otherwise full exposure to decline of worst performing asset
|
| Call: | Automatically starting Sept. 29, 2022 at 8% per year on any semi-annual determination date if each underlier closes at or above its initial level
|
| Initial levels: | $50.45 for ETF, 4,058.82 for Euro Stoxx
|
| Downside thresholds: | $32.793 for ETF, 2,638.233 for Euro Stoxx, 65% of initial levels
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| Pricing date: | Sept. 28, 2021
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| Settlement date: | Oct. 1, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61773FM67
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