Published on 6/26/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.54 million jump securities with autocallable feature on indexes
By Kiku Steinfeld
Chicago, June 28 – Morgan Stanley Finance LLC priced $3.54 million of 0% jump securities with autocallable feature due June 15, 2026 linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average 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 called at par plus an annual premium of 10.65% if each index closes at or above its initial level on any semiannual observation date after one year.
At maturity, if all indexes finish above their initial levels, the payout will be $1,532.50 per security.
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, Dow Jones industrial average
|
| Amount: | $3,537,000
|
| Maturity: | June 15, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 10.65% if each index closes at or above initial level on any semiannual observation date after one year
|
| Payout at maturity: | If all indexes finish above initial levels, $1,532.50 per security; if the worst performing index finishes below its initial 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: | 13,960.35 for Nasdaq, 2,311.40 for Russell, 34,466.24f or Dow
|
| Downside threshold levels: | 9,772.245 for Nasdaq, 1,617.986 for Russell, 24,126.368 for Dow; 70% of initial levels
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.625%
|
| Cusip: | 61771V5J5
|
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