Published on 3/10/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.63 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, March 10 – Morgan Stanley Finance LLC priced $1.63 million of 0% jump securities with autocallable feature due March 3, 2025 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 14.6% if each index closes at or above its initial level on any annual observation date after one year.
At maturity, if all indexes finish above their initial levels, the payout will be par plus 58.4%.
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: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,631,000
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| Maturity: | March 3, 2025
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| Coupon: | 0%
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| Price: | Par
|
| Call: | At par plus an annual premium of 14.6% if each index closes at or above its initial level on any annual observation date after one year
|
| Payout at maturity: | Par plus 58.4% 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 of that index
|
| Initial levels: | 12,909.44 for Nasdaq, 2,201.051 for Russell, 30,932.37 for Dow
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| Downside threshold levels: | 9,036.608 for Nasdaq, 1,540.736 for Russell, 21,652.659 for Dow; 70% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | March 3
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61771VBK5
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