Published on 10/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.63 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., Oct. 1 – Morgan Stanley Finance LLC priced $1.63 million of 0% jump securities with autocallable feature due July 27, 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 will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized call premium of 8.1% if each index closes at or above its initial level on any annual observation date.
At maturity, if all indexes finish above their initial levels, the payout will be par plus 40.5%.
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
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1,625,000
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| Maturity: | July 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish above initial levels, par plus 40.5%; 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
|
| Call: | At par plus an annualized call premium of 8.1% if each index closes at or above initial level on any annual observation date
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| Initial levels: | 14,940.17 for Nasdaq, 2,199.475 for Russell, 34,823.35 for Dow
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| Downside threshold levels: | 10,458.119 for Nasdaq, 1,539.633 for Russell, 24,376.345 for Dow; 70% of initial levels
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61773FGZ0
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