Published on 5/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million jump securities on S&P, Nasdaq, Russell
Chicago, May 3 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities due March 19, 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.
The notes will be automatically redeemed at par plus a call premium of 10% per year if on any semiannual observation date after 18 months each index closes at or above its initial level.
If each index finishes at or above 80% of its initial level, the payout at maturity will be $1,500 per $1,000 note.
If the worst performer finishes lower than 80% of its initial level but above 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities
|
| Underlying indexes: | S&P 500 index, Nadaq-100 index and Russell 2000 index
|
| Amount: | $1,000,000
|
| Maturity: | March 19, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus 10% per year if all indexes close at or above their initial levels on any semiannual observation date after 18 months
|
| Payout at maturity: | If each index finishes at or above 80% of initial level, $1,500 per $1,000 note; par if any index finishes below 80% of initial level but each index finishes at or above 70% downside threshold; otherwise, par plus return of worst performing index
|
| Initial levels: | 3,968.94 for S&P, 13,082.54 for Nasdaq, 2,360.168 for Russell
|
| Trigger levels: | 2,778.258 for S&P, 9,157.778 for Nasdaq, 1,652.118 for Russell, 70% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61771VJE1
|
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