Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.89 million autocallable jump securities on three indexes
New York, Jan. 30 – Morgan Stanley Finance LLC priced $1.89 million of jump securities with autocallable feature due Jan. 30, 2029 linked to the S&P 500 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 13% per year if the closing level of each underlying index is greater than or equal to 95% of its initial level on any semiannual determination date starting Jan. 30, 2024.
At maturity, the payout will be par plus 78% if the worst performing underlier finishes at or above 95% of its initial level.
The payout will be par if worst performing index finishes below 95% of its initial level but at or above its 75% trigger level. Otherwise, investors will be fully exposed to the decline of 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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1.89 million
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| Maturity: | Jan. 30, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 78% if worst performing index finishes at or above its call threshold level; par if worst performing index finishes below 95% of its initial level but at or above 75% 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 13% per year if the closing level of each underlying index is greater than or equal to 95% of its initial level on any semiannual determination date starting Jan. 30, 2024
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| Initial levels: | 33,743.84 for Dow Jones industrial average, 1,890.319 for Russell 2000, 4,016.22 for S&P 500
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| Downside thresholds: | 25,307.88 for Dow Jones industrial average, 1,417.739 for Russell 2000, 3,012.165 for S&P 500, 75% of initial level
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| Call threshold: | 32,056.648 for Dow Jones industrial average, 1,795.803 for Russell 2000, 3,815.409 for S&P 500, 95% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Feb. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774TNY4
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