Published on 3/26/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.43 million jump securities with autocallable feature on indexes
Kiku Steinfeld
Chicago, March 26 – Morgan Stanley Finance LLC priced $2.43 million of 0% jump securities with autocallable feature due March 21, 2024 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 13% if each index closes at or above its initial level on any quarterly observation date after six months.
At maturity, if all indexes finish above their initial levels, the payout will be par plus 39%.
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: | $2,431,000
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| Maturity: | March 21, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 13% if each index closes at or above its initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par plus 39% 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: | 32,825.95 for Dow, 2,319.518 for Russell, 13,152.28 for Nasdaq
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| Barrier levels: | 22,978.165 for Dow, 1,623.663 for Russell, 9,206.596 for Nasdaq, 70% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771VKF6
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