Published on 10/25/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.45 million jump securities with autocallable feature on indexes
Chicago, Oct. 25 – Morgan Stanley Finance LLC priced $1.45 million of 0% jump securities with autocallable feature due March 26, 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 annual premium of 13.75% if each index closes at or above its initial level on any semiannual observation date after one year.
At maturity, if all indexes finish at or above their initial levels, the payout will be par plus 68.75%.
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: | $1,452,000
|
| Maturity: | March 26, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish at or above initial levels, par plus 68.75%; 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 annual premium of 13.75% if each index closes at or above initial level on any semiannual observation date after one year
|
| Initial levels: | 13,017.79 for Nasdaq, 2,185.687 for Russell, 32,423.15 for Dow
|
| Downside threshold levels: | 9,112.453 for Nasdaq, 1,529.981 for Russell, 22,696.205 for Dow; 70% of initial levels
|
| Pricing date: | March 23
|
| Settlement date: | March 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771VFA3
|
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