Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.41 million buffered autocallables linked to Russell 2000, S&P 500
New York, April 26 – Morgan Stanley Finance LLC priced $1.41 million of 0% buffered jump securities with autocallable feature due April 6, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 16.6% if the closing level of each underlying index is greater than or equal to 105% of its initial level on April 3, 2024.
If the worst performing index finishes above its initial level, the payout at maturity will be par plus 175% of the worst performing index return. Investors will receive par if the worst performing index finishes below its initial level but declines by 10% or less and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered jump securities with autocallable feature
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $1,408,000
|
| Maturity: | April 6, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index gains par plus 175% of worst performing index return; par if worst performing index declines but by no more than 10% buffer; 1% loss for every 1% that worst performing index declines beyond the buffer
|
| Call: | Automatically at par plus 16.6% if the closing level of each underlying index is greater than or equal to 105% of its initial level on April 3, 2024
|
| Initial levels: | 1,802.484 for Russell 2000, 4,109.31 for S&P 500
|
| Buffer levels: | 1,622.236 for Russell 2000, 3,698.379 for S&P 500, 90% of initial levels
|
| Call threshold: | 1,892.608 for Russell 2000, 4,314.776 for S&P 500, 105% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61774XAP8
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
