Published on 4/21/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 trigger jump securities on S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, April 21 – Morgan Stanley Finance LLC priced $250,000 of 0% trigger jump securities due April 6, 2026 linked to the least performing of the S&P 500 index, the Nadaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the return of the worst performing index and the upside payment of 41%.
If any index finishes below its initial level but each index finishes at or above its downside threshold level, 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worse performing index.
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: | Trigger jump securities
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| Underlying indexes: | S&P 500 index, Nadaq-100 index and Russell 2000 index
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| Amount: | $250,000
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| Maturity: | April 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus greater of return of worst performing index and 41%; if any index finishes below initial level but each index finishes at or above downside threshold, par; otherwise, par plus return of worst performing index
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| Initial levels: | 3,972.89 for S&P, 13,091.44 for Nasdaq, 2,220.519 for Russell
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| Trigger levels: | 2,781.02 for S&P, 9,164.01 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: | 0.75%
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| Cusip: | 61771VDE7
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