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Morgan Stanley plans autocallable jump notes linked to Russell, Dow
By Sarah Lizee
Olympia, Wash., Aug. 16 – Morgan Stanley Finance LLC plans to price 0% jump securities with autocallable feature due Aug. 30, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 7.5% per year if each index closes at or above its initial level on any annual determination date.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the gain of the lesser performing index.
If the final level of either index is less than its initial level but the final level of each index is greater than or equal to its downside threshold level, 60% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price Aug. 27.
The Cusip number is 61769HPH2.
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