Published on 5/25/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.43 million autocallable jump securities on three indexes
New York, May 25 – Morgan Stanley Finance LLC priced $1.43 million of jump securities with autocallable feature due Oct. 30, 2026 linked to 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 securities will be called automatically, starting Oct. 28, 2022 on any semiannual determination date, at a price to give a return of 7.85% per year if the level of each underlying index is greater than or equal to its initial level.
At maturity, the payout will be par plus 39.25% 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. Otherwise, investors will be fully exposed to the decline of the worst performing index.
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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $1,428,000
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Maturity: | Oct. 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 39.25% 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 at a price to give a return of 7.85% per year if the level of each underlying index is greater than or equal to its initial level, starting Oct. 28, 2022 on any semiannual determination date
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Initial levels: | 35,490.69 for Dow Jones industrial average, 15,598.39 for Nasdaq-100, 2,252.491 for Russell 2000
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Downside thresholds: | 24,843.483 for Dow Jones industrial average, 10,918.873 for Nasdaq-100, 1,576.744 for Russell 2000, 70% of initial level
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Pricing date: | Oct. 27, 2021
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Settlement date: | Oct. 29, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61773F6Y4
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