Published on 1/15/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.05 million fixed-income autocallable securities on S&P, Russell
By Cady Vishniac
Detroit, Jan. 15 – Morgan Stanley Finance LLC priced $1.05 million of 11% fixed-income autocallable securities due Jan. 3, 2022 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 the most recent coupon if each underlying index closes at or above its initial level on any quarterly determination date after six months.
If the notes are not called and each index either finishes at or above its initial level or has never closed below its 70% downside threshold level during the notes’ lifetime, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-income autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 and Nasdaq-100
|
| Amount: | $1.05 million
|
| Maturity: | Jan. 3, 2022
|
| Coupon: | 11%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index either finishes at or above its initial level or has never closed below downside threshold during notes’ lifetime; otherwise, investors will lose 1% for each 1% decline of the least-performing index
|
| Call: | Automatically at par plus coupon if each underlying closes at or above its initial level on any quarterly determination date after six months
|
| Initial levels: | 3,735.36 for S&P, 1,996.25 for Russell and 12,838.86 for Nasdaq
|
| Downside thresholds: | 2,614.752 for S&P, 1,397.375 for Russell and 8,987.202 for Nasdaq; 70% of initial levels
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61771EWK0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
