Published on 5/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 autocallable buffered jump securities on Russell, Nasdaq
Chicago, May 3 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities with autocallable feature due March 19, 2026 linked to the worse performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus a premium if each index closes at or above its call level on an annual call date. The premium is 6% per year. The call level is the initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 30%.
If either index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered jump securities with autocallable feature
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Underlying indexes: | Nasdaq-100 index, Russell 2000
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Amount: | $250,000
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Maturity: | March 19, 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 its initial level, par plus return of lesser performing index; if either index falls by up to buffer, par; 1% loss for every 1% that the lesser-performing underlying index declines beyond buffer
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Call: | Automatically at par plus an annual 6% premium if each index closes at or above its initial level on any annual call date
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Initial levels: | 13,082.54 for Nasdaq, 2,360.168 for Russell
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Buffer levels: | 11,120.159 for Nasdaq, 2,006.143 for Russell, 85% of initial levels
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Pricing date: | March 15
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Settlement date: | March 18
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.75%
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Cusip: | 61771VFF2
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