Published on 1/8/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $385,000 jump autocalls on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – Morgan Stanley Finance LLC priced $385,000 of 0% jump securities with autocallable feature due Dec. 29, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 11.5% if each index closes at or above its call level, 95% of its initial level, on any semiannual determination date.
If each index finishes at or above its call level, the payout at maturity will be $1,345 per $1,000 principal amount.
If any index finishes below its call level but no index finishes below its 70% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
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, Nasdaq-100 index and S&P 500 index
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| Amount: | $385,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above call level, $1,345 per $1,000 principal amount; if any index finishes below call level but no index finishes below downside threshold, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call: | At par plus 11.5% annualized if each index closes at or above 95% of initial level on any semiannual determination date
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| Initial levels: | 12,653.14 for Nasdaq, 3,690.01 for S&P, 2,007.104 for Russell
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| Downside thresholds: | 8,857.198 for Nasdaq, 2,583.007 for S&P, 1,404.973 for Russell; 70% of initial levels
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771EVU9
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