Published on 7/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.56 million autocallable jump securities on three indexes
New York, July 11 – Morgan Stanley Finance LLC priced $1.56 million of jump securities with autocallable feature due July 1, 2027 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 20.25% call premium if each index closes at or above its initial level on July 10, 2023.
The payout at maturity will be par plus 150% of the return of the worst performing index if the return of that index is positive.
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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,562,000
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| Maturity: | July 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 150% of that index's return; par if worst performing index declines but ends at or above downside threshold; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus 20.25% call premium if each index closes at or above initial level on July 10, 2023
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| Initial levels: | 31,438.26 for Dow Jones industrial average, 12,008.24 for Nasdaq-100, 1,771.742 for Russell 2000
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| Downside thresholds: | 22,006.782 for Dow Jones industrial average, 8,405.768 for Nasdaq-100, 1,240.219 for Russell 2000, 70% of initial level
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61774DQH3
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