Published on 7/17/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 buffered jump autocalls on Nasdaq, Russell
By Kiku Steinfeld
Chicago, July 19 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities with autocallable feature due May 31, 2024 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9% per year if each index closes at or above 102% of its initial level, on any semiannual determination date after one year.
If the final level of each index is greater than or equal to 102% of its initial level, the payout at maturity will be par plus 18%.
If the final level of any index is less than 102% of its initial level but the final level of each index is greater than or equal to its 85% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
The notes are guaranteed by Morgan Stanley.
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: | Russell 2000, Nasdaq-100
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| Amount: | $250,000
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| Maturity: | May 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to 102% of initial level, par plus 18%; if final level of any index is less than 102% of initial level but final level of each index is greater than or equal to buffer level, par; otherwise, 1% loss for every 1% that least-performing index declines beyond 15%
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| Call: | Automatically at par plus 9% per year if each index closes at or above 102% of initial level on any semiannual determination date after one year
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| Initial levels: | 13,657.73 for Nasdaq, 2,205.750 for Russell
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| Buffer levels: | 11,609.071 for Nasdaq, 1,874.888 for Russell; 85% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 61771VYX2
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