Published on 2/14/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.98 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $3.98 million of 0% jump securities with autocallable feature due Jan. 19, 2024 linked to the worst performing of the Dow Jones industrial average, 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 11.4% if each index closes at or above its initial level on any semiannual observation date.
At maturity, if the notes have not been called and all indexes finish above their initial levels, the payout will be par plus the final call premium of 34.2%.
If the worst performing index 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
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $3,982,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 11.4% if each index closes at or above its initial level on any semiannual observation date
|
| Payout at maturity: | Par plus 34.2% if all indexes finish above initial level; if the worst performing index 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
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| Initial levels: | 30,991.52 for Dow, 12,898.69 for Nasdaq, 2,155.349 for Russell
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| Downside thresholds: | 21,694.064 for Dow, 9,029.083 for Nasdaq, 1,508.744 for Russell; 70% of initial levels
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771ED96
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