Published on 3/24/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.64 million jump autocalls on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, March 24 – Morgan Stanley Finance LLC priced $1.64 million of 0% jump securities with autocallable feature due March 2, 2023 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 16.5% if each index closes at or above its initial level on March 1, 2022.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 200% of the worst-performing index return.
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 70% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines.
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: | $1,638,000
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| Maturity: | March 2, 2023
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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 initial level, par plus 200% of worst performing index return; if final level of any index is less than call level but final level of each index is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines
|
| Call: | Automatically at par plus 16.5% if each index closes at or above initial level on March 1, 2022
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| Initial levels: | 12,909.44 for Nasdaq, 2,201.051 for Russell
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| Barrier levels: | 9,036.608 for Nasdaq, 1,540.736 for Russell; 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: | 0.75%
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| Cusip: | 61771ET24
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