Published on 7/21/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., July 21 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due May 31, 2024 linked to the performance 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 a yearly premium of 9% if each index closes at or above its call level, 95% of initial level, on any semiannual observation date.
At maturity, if all indexes finish above their 95% call levels, the payout will be par plus 27%.
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 from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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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 all indexes finish above call levels, par plus 27%; if the worst performing index finishes below its call level but at or above its downside threshold level, par; otherwise, investors will be fully exposed to the decline of the worst performer from its initial level
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| Call: | At par plus a yearly premium of 9% if each index closes at or above call level, 95% of initial level, on any semiannual observation date
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| Initial levels: | 13,657.85 for Nasdaq, 2,273.073 for Russell
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| Downside threshold levels: | 9,560.495 for Nasdaq, 1,591.151 for Russell; 70% of initial levels
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| Call levels: | 12,974.958 for Nasdaq, 2,159.419 for Russell; 95% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771VYN4
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