Published on 2/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $6.11 million jump securities with autocallable feature on indexes
Chicago, Feb. 11 – Morgan Stanley Finance LLC priced $6.11 million of 0% jump securities with autocallable feature due April 23, 2026 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 annual premium of 11% if each index closes at or above 105% of its initial level on any semiannual observation date after one year.
At maturity, if all indexes finish above their 105% call levels, the payout will be $1,550 per security.
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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $6,107,000
|
| Maturity: | April 23, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 11% if each index closes at or above 105% of its initial level on any semiannual observation date after one year
|
| Payout at maturity: | If all indexes finish above 105% call levels, $1,550 per security; 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
|
| Initial levels: | 4,163.26 for S&P, 2,232.001 for Russell, 34,077.63 for Dow
|
| Downside threshold levels: | 3,122.445 for S&P, 1,674.001 for Russell, 25,558.223 for Dow; 75% of initial levels
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| Pricing date: | April 19, 2021
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| Settlement date: | April 22, 2021
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61771VUQ1
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