Published on 11/17/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 jump autocalls on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Nov. 3, 2022 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 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.
The notes will be called at par plus a premium of 16% if each index closes at or above its initial level on Nov. 2, 2021.
At maturity, investors will receive par plus 200% of the return of the least performing index if each index finishes above its initial level.
If the worst performing index finishes between 70% of its initial level and 100% of its initial level, 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: | Nov. 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | Par plus premium of 16% if each index finishes above initial levels on Nov. 2, 2021
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| Payout at maturity: | Par plus 200% of return of least performing index if indexes finish above initial level; par if worst performer finishes between 70% and 100% of initial level; otherwise, full exposure to decline of worst performer
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| Initial levels: | 1,538.479 for Russell, 11,052.95 for Nasdaq and 3,269.96 for S&P
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| Downside thresholds: | 1,076.935 for Russell, 7,737.065 for Nasdaq and 2,288.972 for S&P; 70% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771EAY4
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