Published on 2/15/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.86 million jump securities with autocallable feature on Russell, S&P
By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $5.86 million of 0% jump securities with autocallable feature due Jan. 27, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 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 8.25% if each index closes at or above its initial level on any annual 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 33%.
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 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: | Russell 2000 index and S&P 500 index
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| Amount: | $5,863,000
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| Maturity: | Jan. 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 8.25% if each index closes at or above its initial level on any annual observation date
|
| Payout at maturity: | Par plus 33% if both 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 of that index
|
| Initial levels: | 3,841.47 for S&P, 2,168.758 for Russell
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| Downside thresholds: | 2,689.029 for S&P, 1,518.131 for Russell; 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61771EXH6
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