Published on 10/14/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 buffered jump autocalls on indexes
By Kiku Steinfeld
Chicago, Oct. 14 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities with autocallable feature due Oct. 5, 2022 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9.25% if each index closes at or above its initial level on Oct. 1, 2021.
If the notes are not called and the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 150% of the return of the least-preforming index.
If the least performing index falls by up to 15%, the payout will be par. Investors will lose 1% for every 1% that the least-performing index declines beyond 15%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered jump securities with autocallable feature
|
| Underlying indexes: | Nasdaq-100, S&P 500 and Russell 2000
|
| Amount: | $250,000
|
| Maturity: | Oct. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 150% of return of least performing index; par if least performing index falls by up to 15%; otherwise, 1% loss for every 1% that least-performing index declines beyond 15%
|
| Call: | Automatically at par plus 9.25% if each index closes at or above initial level on Oct. 1, 2021
|
| Initial levels: | 3,363.00 for S&P, 1,507.692 for Russell, 11,418.06 for Nasdaq
|
| Buffer levels: | 2,858.55 for S&P, 1,281.538 for Russell, 9,705.351 for Nasdaq, or 85% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61771BW34
|
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