Published on 4/21/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.84 million jump securities with autocallable feature on indexes
By Kiku Steinfeld
Chicago, April 21 – Morgan Stanley Finance LLC priced $3.84 million of 0% jump securities with autocallable feature due April 4, 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 16.75% if each index closes at or above its initial level on any quarterly observation date after six months.
At maturity, if the notes have not been called and all indexes finish above their initial levels, the payout will be par plus 50.25%.
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.
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: | $3,835,000
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| Maturity: | April 4, 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 16.75% if each index closes at or above its initial level on quarterly observation date after six months
|
| Payout at maturity: | Par plus 50.25% if both 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
|
| Initial levels: | 32,981.55 for Dow, 13,091.44 for Nasdaq, 2,220.519 for Russell
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| Downside threshold levels: | 23,087.08 for Dow, 9,164.008 for Nasdaq, 1,554.363 for Russell; 70% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771VDZ0
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