Published on 2/12/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 jump autocalls on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due Feb. 2, 2023 linked to the least 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 automatically called at par plus 17% per year if each index closes at or above its call level, its initial level, on any quarterly determination date after six months.
If the final level of each index is greater than or equal to its call level, the payout at maturity will be par plus 34%.
If the final level of any index is less than its call level but the final level of each index is greater than or equal to its 70% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Morgan Stanley.
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 and Nasdaq-100 index
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| Amount: | $250,000
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| Maturity: | Feb. 2, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to call level, par plus 34%; if final level of any index is less than call level but final level of each index is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that least-performing index declines
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| Call: | Automatically at par plus 17% per year if each index closes at or above initial level on any quarterly determination date after six months
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| Initial levels: | 12,925.38 for Nasdaq, 2,073.641 for Russell
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| Downside threshold levels: | 9,047.776 for Nasdaq, 1,451.549 for Russell; 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61771EXY9
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