Published on 8/25/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 autocallable jump securities on Nasdaq, Russell, S&P
By Sarah Lizee
Olympia, Wash., Aug. 25 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Aug. 24, 2023 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
After six months, the notes will be called at par plus an annual premium of 12.5% if each index closes at or above its initial level on any semiannual observation date.
The payout at maturity will be par plus 37.5% if each index finishes at or above its initial level. If the worst performing index declines by up to 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline.
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: | $250,000
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| Maturity: | Aug. 24, 2023
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| Coupon: | 0%
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| Price: | Par
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| Call: | After six months, at par plus an annual premium of 12.5% if each index closes at or above its initial level on any semiannual observation date
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| Payout at maturity: | Par plus 37.5% if each index finishes at or above its initial level; if the worst performing index declines by up to 30%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline
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| Initial levels: | 11,555.16 for Nasdaq, 3,397.16 for S&P, 1,552.476 for Russell
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| Downside thresholds: | 8,088.612 for Nasdaq, 2,378.012 for S&P, 1,086.733 for Russell; 70% of initial levels
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771BN83
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