Published on 3/30/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.9 million autocallable jump securities linked to indexes
By Kiku Steinfeld
Chicago, March 30 – Morgan Stanley Finance LLC priced $1.9 million of jump securities with autocallable feature due Sept. 25, 2026 linked to Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 23, 2022 at 7.25% per year if the level of each underlying index is greater than or equal to its initial level on any annual call determination date.
At maturity the payout will be par plus 36.25% if the worst performing underlier finishes above its initial level.
The payout will be par if the worst performing index declines but finishes above its 65% trigger level, and investors will be fully exposed to the decline of the worst performing index if it finishes below its 65% trigger 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $1,897,000
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Maturity: | Sept. 25, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 36.25% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 65% trigger level; otherwise, full exposure to decline of worst performing index
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Call: | Automatically starting Sept. 23, 2022 at 7.25% per year if the level of each underlying index is greater than or equal to its initial level on any annual call determination date
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Initial levels: | 34,258.32 for Dow, 15,176.51 for Nasdaq, 2,218.561 for Russell
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Downside thresholds: | 22,267.908 for Dow, 9,864.732 for Nasdaq, 1,442.065 for Russell, 65% of initial level
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Pricing date: | Sept. 22, 2021
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Settlement date: | Sept. 27, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.625%
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Cusip: | 61773FC92
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