Published on 4/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $13.18 million autocallable jump securities linked to Dow, S&P
New York, April 22 – Morgan Stanley Finance LLC priced $13.18 million of jump securities with autocallable feature due Feb. 25, 2027 linked to Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 10% if each index closes at or above its initial level on Feb. 28, 2023.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus 221% of the laggard index’s return.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its 70% downside threshold level, the payout will be par.
If the final level of either index is less than its downside threshold level, the payout will be par minus 1% for every 1% that the laggard index declines 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 S&P 500 index
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| Amount: | $13,179,000
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| Maturity: | Feb. 25, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 221% of laggard index’s return; if either index finishes at or below initial level but each index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that laggard index declines from initial level
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| Call: | Automatically at par plus 10% if each index closes at or above initial level on Feb. 28, 2023
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| Initial levels: | 33,596.61 for Dow, 4,304.76 for S&P
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| Downside thresholds: | 23,517.627 for Dow, 3,013.332 for S&P, 70% of initial level
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.1%
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| Cusip: | 61773QAY5
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