Published on 7/17/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 jump autocalls on Nasdaq, Russell
By Kiku Steinfeld
Chicago, July 19 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due May 31, 2024 linked to the lesser performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 5.5% per year if each index closes at or above 95% of its initial level on any semiannual determination date.
If the final level of each index is greater than or equal to 95% of its initial level, the payout at maturity will be par plus 16.5%.
If the final level of any index is less than 95% of its initial level but the final level of each index is greater than or equal to its 70% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines.
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, Nasdaq-100
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Amount: | $250,000
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of each index is greater than or equal to 95% of initial level, par plus 16.5%; if final level of any index is less than 95% of its initial level but final level of each index is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines
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Call: | Automatically at par plus 5.5% per year if each index closes at or above 95% of its initial level on any semiannual determination date
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Initial levels: | 13,657.73 for Nasdaq, 2,205.750 for Russell
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Barrier levels: | 9,560.411 for Nasdaq, 1,544.025 for Russell; 70% of initial levels
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Pricing date: | May 25
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Settlement date: | May 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.1%
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Cusip: | 61771VYW4
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