Published on 5/31/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.67 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., June 1 – Morgan Stanley Finance LLC priced $1.67 million of 0% jump securities with autocallable feature due May 3, 2024 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 10.75% if each index closes at or above 95% of its initial level, on any semiannual observation date.
At maturity, if all indexes finish above their call levels, the payout will be $1,322.50 per security.
If the worst performing index finishes below its call 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: | $1,669,000
|
| Maturity: | May 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 10.75% if each index closes at or above 95% of initial levels on any semiannual observation date
|
| Payout at maturity: | If all indexes finish above call levels, $1,322.50 per security; 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: | 13,860.76 for Nasdaq, 2,266.449 for Russell
|
| Call threshold levels: | 13,167.722 for Nasdaq, 2,153.127 for Russell; 95% of initial levels
|
| Downside threshold levels: | 9,702.532 for Nasdaq, 1,586.514 for Russell; 70% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61771VQH6
|
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