Published on 12/27/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.16 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, Dec. 30 – Morgan Stanley Finance LLC priced $1.16 million of 0% jump securities with autocallable feature due Dec. 27, 2023 linked to the worst performing of the Nasdaq-100 index and the Russell 2000 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 8% if each index closes at or above 95% of its initial level on a semiannual observation date starting June 21.
If the notes are not called, meaning the worst performer has finished below 95% of its initial level, and the worst performing index declines by not more than 30%, the payout will be par. Otherwise, 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: | Nasdaq-100 index and Russell 2000 index
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| Amount: $1,164,000
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| Maturity: | Dec. 27, 2023
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| Coupon: 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 8% if each index closes at or above 95% of its initial level on a semiannual observation date
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| Payout at maturity: | If not called because worst performer has declined beyond 95% of initial level and if it declines by not more than 30%, par; otherwise, investors will be fully exposed to the decline
|
| Initial levels: | 1,970.329 for Russell, 12,690.26 for Nasdaq
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| Call thresholds: | 1,871.813 for Russell, 12,055.747 for Nasdaq; 95% of initial levels
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| Downside thresholds: | 1,379.23 for Russell, 8,883.182 for Nasdaq; 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: | 3.1%
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| Cusip: | 61771EPW2
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