Published on 12/26/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.41 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, Dec. 30 – Morgan Stanley Finance LLC priced $2.41 million of 0% jump securities with autocallable feature due Dec. 8, 2025 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 11.6% if each index closes at or above its initial level on an annual observation date.
At maturity, if the notes have not been called and each index finishes above its 100% call threshold level, the payout will be par plus 58%.
If the worst performing index finishes below its initial and declines by not more than 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 of that index.
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 Dow Jones industrial average
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| Amount: | $2,407,000
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| Maturity: | Dec. 8, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 11.6% if each index closes at or above its initial level on an annual observation date
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| Payout at maturity: | Par plus 58% if all indexes finish above their initial levels; if worst performing index finishes below initial level or declines by up to 30%, par; if worst performing index finishes below its downside threshold level, investors will be fully exposed to that index’s decline
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| Initial levels: | 29,969.52 for Dow, 12,467.13 for Nasdaq, 1,848.702 for Russell
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| Downside thresholds: | 20,978.664 for Dow, 8,726.991 for Nasdaq, 1,294.091for Russell; 70% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61771ESC3
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