Published on 2/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.66 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., Feb. 10 – Morgan Stanley Finance LLC priced $5.66 million of 0% jump securities with autocallable feature due Feb. 11, 2027 linked to the worst performing of the S&P 500 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 9.35% if each index closes at or above its call level, 92% of initial level, on any semiannual observation date after one year.
At maturity, if all indexes finish at or above their call levels, the payout will be par plus 46.75%.
If the worst performing index finishes below its call level but at or above its 75% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $5,664,000
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| Maturity: | Feb. 11, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above call levels, par plus 46.75%; if the worst performing index finishes below its call 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
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| Call: | At par plus an annualized call premium of 9.35% if each index closes at or above call level on any semiannual observation date after one year
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| Initial levels: | 4,483.87 for S&P, 2,012.599 for Russell, 35,091.13 for Dow
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| Call levels: | 4,125.16 for S&P, 1,851.591 for Russell, 32,283.84 for Dow; 92% of initial levels
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| Downside threshold levels: | 3,362.903 for S&P, 1,509.449 for Russell, 26,318.348 for Dow; 75% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 9
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61773H5N5
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