Published on 5/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million autocallable jump securities linked to Russell, Nasdaq
New York, May 23 – Morgan Stanley Finance LLC priced $1 million of jump securities with autocallable feature due Oct. 31, 2023 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting April 26, 2022 at a price to give a return of 7% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity, the payout will be par plus 14% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing index declines but finishes at or above its 70% trigger level and investors will be fully exposed to the decline of the worst performing index if it finishes below its 70% trigger level.
The notes are guaranteed by Morgan Stanley.
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: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $1 million
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| Maturity: | Oct. 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 14% if worst performing index finishes at or above its initial level; par if worst performing index declines but finishes at or above its 70% trigger level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting April 26, 2022 at a price to give a return of 7% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 15,559.49 for Nasdaq-100, 2,296.075 for Russell 2000
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| Downside thresholds: | 10,891.643 for Nasdaq-100, 1,607.253 for Russell 2000, 70% of initial level
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.434%
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| Cusip: | 61773FS79
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