Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.15 million autocallable jump securities on Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 29 – Morgan Stanley Finance LLC priced $3.15 million of 0% jump securities with autocallable feature due Oct. 28, 2024 linked to the worst performing of the Russell 2000 index and 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 10.75% per year if each index closes at or above its call level on any annual call date. The call level for each index will be its initial level.
If each index finishes at or above its initial level, the payout will be par plus 43%.
If any index falls by up to 30%, the payout will be par.
Otherwise, investors will be exposed to the decline of the least performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $3,146,000
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| Maturity: | Oct. 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 10.75% per year if each index closes at or above call level on any annual call date; call level for each index will initial level
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 43%; if any index falls by up to 30%, par; otherwise, investors will be exposed to the decline of the least performing index
|
| Initial levels: | 3,465.39 for S&P, 1,640.502 for Russell
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| Barrier levels: | 2,425.773 for S&P, 1,148.351 for Russell; 70% of initial levels
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61771EBK3
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