Published on 7/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $564,000 autocallable buffered jump securities on Dow, Russell
By William Gullotti
Buffalo, N.Y., July 1 – Morgan Stanley Finance LLC priced $564,000 of 0% buffered jump securities with autocallable feature due May 27, 2025 linked to the worse performing of 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 automatically called at par plus an annual 4.5% premium on any semiannual call date after one year, if each index closes at or above initial levels.
If each index finishes at or above its initial level, the payout at maturity will be par plus 18%.
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: | Dow Jones industrial average, Russell 2000
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| Amount: | $564,000
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| Maturity: | May 27, 2025
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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 18%; if either index falls by up to 15%, par; 1% loss for every 1% that the lesser-performing underlying index declines beyond 15%
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| Call: | Automatically at par plus an annual 4.5% premium on any semiannual call date after one year, if each index closes above initial levels
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| Initial levels: | 34,207.84 for Dow, 2,215.268 for Russell
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| Buffer levels: | 29,076.664 for Dow, 1,882.978 for Russell; 85% of initial levels
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| Pricing date: | May 21
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| Settlement date: | May 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61771VV98
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