Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.35 million autocallable jump securities linked to indexes
Chicago, Nov. 4 – Morgan Stanley Finance LLC priced $1.35 million of jump securities with autocallable feature due March 5, 2026 linked to the worst performing of the S&P 500 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 March 2, 2023 at a price to give a return of 9.25% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any quarterly call determination date.
At maturity the payout will be par plus 37% if the worst performing underlier finishes above 95% of its initial level.
The payout will be par if worst performing index finishes below 95% of its initial level but above its 60% trigger level. Investors will be fully exposed to the decline of worst performing index if it finishes below its 60% 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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,353,000
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| Maturity: | March 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 37% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 95% of its initial level but above 60% trigger level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting March 2, 2023 at a price to give a return of 9.25% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any quarterly call determination date
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| Initial levels: | 33,294.95 for Dow, 2,008.506 for Russell, 4,306.26 for S&P
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| Downside thresholds: | 19,976.97 for Dow, 1,205.104 for Russell, 2,583.756 for S&P, 60% of initial levels
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| Call threshold: | 31,630.203 for Dow, 1,908.081 for Russell, 4,090.947 for S&P, 95% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773QCZ0
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