Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $538,000 jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., May 19 – Morgan Stanley Finance LLC priced $538,000 of 0% jump securities with autocallable feature due Oct. 14, 2022 linked to the worst performing of the Nasdaq-100 index and the Russell 2000 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 14% if each index closes at or above its initial level, on any semiannual observation date.
At maturity, if all indexes finish above their call levels, the payout will be par plus 1.5 times the index change of the worst performing index.
If the worst performing index finishes below its initial level but at or above its 70% downside threshold level, the payout will be par. If the worst performing index finishes below its 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $538,000
|
| Maturity: | Oct. 14, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 14% if each index closes at or above initial level on any semiannual observation date
|
| Payout at maturity: | Par plus 1.5 times the return of the worst performing index, if all indexes finish above initial levels; if the worst performing index finishes below its call level but at or above its downside threshold level, 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: | 13,845.05 for Nasdaq, 2,243.474 for Russell
|
| Downside threshold levels: | 9,691.535 for Nasdaq, 1,570.432 for Russell; 70% of initial levels
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61771VSS0
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