Published on 5/26/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.05 million autocallable jump securities on Nasdaq, Dow, Russell
Chicago, May 26 – Morgan Stanley Finance LLC priced $1.05 million of jump securities with autocallable feature due Nov. 1, 2024 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting April 29, 2022 at a price to give a return of 12% 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 36% if the worst performing underlier finishes above its initial level.
The payout will be par if the worst performing index declines but finishes 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,046,000
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| Maturity: | Nov. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 36% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 70% trigger level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting April 29, 2022 at a price to give a return of 12% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
|
| Initial levels: | 35,819.56 for Dow, 15,850.47 for Nasdaq, 2,297.191 for Russell
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| Downside thresholds: | 25,073.692 for Dow, 11,095.329 for Nasdaq, 1,608.034 for Russell, 70% of initial levels
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| Pricing date: | Oct. 29, 2021
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| Settlement date: | Nov. 3, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61773FS46
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