Published on 6/30/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.22 million autocallable jump securities on three indexes
New York, June 30 – Morgan Stanley Finance LLC priced $1.22 million of jump securities with autocallable feature due June 29, 2027 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 at a price to give a return of 15.5% per year if the closing level of each underlying index is greater than or equal to its initial level on any semiannual determination date starting June 27, 2023.
At maturity, the payout will be par plus 77.5% 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 from its initial 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: | $1,221,000
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| Maturity: | June 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 77.5% 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 15.5% per year if the closing level of each underlying index is greater than or equal to its initial level on any semiannual determination date starting June 27, 2023
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| Initial levels: | 31,500.68 for Dow Jones industrial average, 12,105.85 for Nasdaq-100, 1,765.737 for Russell 2000
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| Downside thresholds: | 22,050.476 for Dow Jones industrial average, 8,474.095 for Nasdaq-100, 1,236.016 for Russell 2000, 70% of initial level
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774DQT7
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