Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.5 million autocallable jump securities on Dow, Nasdaq, Russell
New York, March 28 – Morgan Stanley Finance LLC priced $2.5 million of jump securities with autocallable feature due March 26, 2026 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 9.75% call premium if the closing level of each underlying index is greater than or equal to its initial level on June 21, 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. 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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $2.5 million
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| Maturity: | March 26, 2026
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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 performing index from initial level
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| Call: | Automatically at par plus a 9.75% call premium if the closing level of each underlying index is greater than or equal to its initial level on June 21, 2023
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| Initial levels: | 31,909.64 for Dow Jones industrial average, 11,830.28 for Nasdaq-100, 1,772.702 for Russell 2000
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| Downside thresholds: | 22,336.748 for Dow Jones industrial average, 8,281.196 for Nasdaq-100, 1,240.891 for Russell 2000, 70% of initial level
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| Strike date: | March 10
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774XAS2
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