Published on 9/9/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.41 million autocallable jump notes on indexes
By Kiku Steinfeld
Chicago, Sept. 9 – Morgan Stanley Finance LLC priced $1.41 million of jump securities with autocallable feature due Jan. 30, 2025 linked to 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 Jan. 27, 2023 at a price to give a return of 13.3% per year if the closing 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 39.9% 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 90% downside threshold, and investors will be fully exposed to the decline of the worst performing index if it finishes below its 90% downside threshold.
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: | $1,405,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 39.9% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 90% downside threshold; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting Jan. 27, 2023 at a price to give a return of 13.3% 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: | 34,168.09 for Dow, 14,172.76 for Nasdaq, 1,976.464 for Russell
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| Downside thresholds: | 30,751.281 for Dow, 12,755.484 for Nasdaq, 1,778.818 for Russell; 90% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61773HQ93
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