Published on 12/27/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 autocallable jump securities on Russell, Nasdaq
By Taylor Fox
New York, Dec. 30 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Dec. 26, 2025 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 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 an annual premium of 7.5% if each index closes at or above 102% of its initial level on any annual observation date.
At maturity, if the notes have not been called and all indexes finish above 102% of their initial levels, the payout will be par plus 37.5%.
If the worst performing index finishes below its call level and 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $250,000
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| Maturity: | Dec. 26, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 7.5% if each index closes at or above 102% of its initial level on any annual observation date
|
| Payout at maturity: | Par plus 37.5% if both indexes finish above 102% of their initial level; if the worst performing index finishes below call level and 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
|
| Initial levels: | 12,690.26 for Nasdaq, 1,970.329 for Russell
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| Call thresholds: | 12,944.065 for Nasdaq, 2,009.736 for Russell, 102% of initial levels
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| Downside thresholds: | 8,883.182 for Nasdaq, 1,379.23 for Russell; 70% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771EPT9
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