Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.18 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, March 23 – Morgan Stanley Finance LLC priced $3.18 million of 0% jump securities with autocallable feature due March 14, 2024 linked to the worst performing of the S&P 500 index, 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 7% if each index closes at or above its initial level on any semiannual observation date.
At maturity, if all indexes finish above their initial levels, the payout will be par plus 21%.
If the worst performing index declines by up to 50%, the payout will be par. If the worst performing index finishes below its 50% 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $3,179,000
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| Maturity: | March 14, 2024
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| Coupon: | 0%
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| Price: | Par
|
| Call: | At par plus an annual premium of 7% if each index closes at or above its initial level on any semiannual observation date
|
| Payout at maturity: | Par plus 21% if all indexes finish above initial level; if the worst performing index declines by up to 50%, 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: | 12,752.07 for Nasdaq, 2,285.683 for Russell, 3,898.81 for S&P
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| Downside threshold levels: | 6,376.035 for Nasdaq, 1,142.842 for Russell, 1,949.405 for S&P; 50% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771VJV3
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