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Published on 2/10/2021 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley sells $1 million autocallable securities with upside participation on S&P

By Wendy Van Sickle

Columbus, Ohio, Feb. 10 – Morgan Stanley Finance LLC priced $1 million of 0% autocallable securities with upside participation feature due Feb. 1, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will be automatically called at par plus a 7.51% annualized premium if the index closes at or above its initial level on any annual determination date.

If the index finishes at or above its initial level, the payout at maturity will be par plus the index return. If the index falls, but not below the 75% downside threshold level, the payout at maturity will be par.

Otherwise, investors will lose 1% for each 1% decline.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Autocallable securities with upside participation feature
Underlying index:S&P 500
Amount:$1 million
Maturity:Feb. 1, 2027
Coupon:0%
Price:Par
Payout at maturity:Par plus index return if index finishes at or above its initial level; par if index falls but not below 75% downside threshold level; otherwise, investors will lose 1% for each 1% decline
Call:Automatically at par plus 7.51% annualized premium if index closes at or above its initial level on any annual determination date
Initial level:3,750.77
Downside threshold:2,813.078; 75% of initial level
Pricing date:Jan. 27
Settlement date:Jan. 29
Agent:Morgan Stanley & Co. LLC
Fees:2.35%
Cusip:61771EN46

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