Published on 3/3/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.06 million jump autocalls on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, March 3 – Morgan Stanley Finance LLC priced $4.06 million of 0% jump securities with autocallable feature due Aug. 24, 2022 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 11.35% per year if each index closes at or above its call level, its initial level, on any semiannual determination date.
If the final level of each index is greater than or equal to 80% of its initial level, the payout at maturity will be par plus 17.025%.
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 80% buffer level, the payout will be par. Otherwise, investors will lose 1.25% for every 1% that the lesser-performing index declines beyond 20%.
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, Nasdaq-100
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| Amount: | $4,061,000
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| Maturity: | Aug. 24, 2022
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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 80% of initial level, par plus 17.025%; if final level of any index is less than call level but final level of each index is greater than or equal to buffer level, par; otherwise, 1.25% loss for every 1% that least-performing index declines beyond 20%
|
| Call: | Automatically at par plus 11.35% per year if each index closes at or above initial level on any semiannual determination date
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| Initial levels: | 13,580.78 for Nasdaq, 2,266.689 for Russell
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| Buffer levels: | 10,864.624 for Nasdaq, 1,813.351 for Russell; 80% of initial levels
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 5%
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| Cusip: | 61771VBP4
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