Published on 7/14/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.79 million autocallable jump securities on three indexes
New York, July 14 – Morgan Stanley Finance LLC priced $5.79 million of jump securities with autocallable feature due July 6, 2027 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 12.6% per year if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting July 7, 2023.
At maturity, the payout will be par plus 63% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing index declines but finishes at or above its 75% trigger level. Otherwise, investors will be fully exposed to the decline of the worst 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: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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Amount: | $5,785,640
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Maturity: | July 6, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 63% if worst performing index finishes at or above its initial level; par if worst performing index declines but finishes at or above its 75% trigger level; otherwise, full exposure to decline of worst performing index from initial level
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Call: | Automatically at a price to give a return of 12.6% per year if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting July 7, 2023
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Initial levels: | 11,503.72 for Nasdaq-100, 1,707.990 for Russell 2000, 3,785.38 for S&P 500
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Downside thresholds: | 8,627.79 for Nasdaq-100, 1,280.993 for Russell 2000, 2,839.035 for S&P 500, 75% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5% including a structuring fee of 0.5%
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Cusip: | 61774B465
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