Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.52 million autocallable jump securities on indexes, ETF
New York, May 16 – Morgan Stanley Finance LLC priced $2.52 million of jump securities with autocallable feature due May 7, 2026 linked to the Dow Jones industrial average, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 38% premium if the closing level of each underlier is greater than or equal to its initial price on May 14, 2024.
The payout at maturity will be par plus 150% of the return of the worst performing asset if the return of that asset is positive.
The payout will be par if the worst performing underlier declines but finishes at or above its 60% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing underlier 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 assets: | Dow Jones industrial average, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $2,515,000
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| Maturity: | May 7, 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 asset is positive, par plus 150% of the gain of that asset; par if worst performing asset declines but finishes at or above downside threshold; otherwise, 1% loss for every 1% decline of worst performing asset from initial level
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| Call: | Automatically at par plus a 38% premium if the closing level of each underlier is greater than or equal to its initial price on May 14, 2024
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| Initial levels: | 33,127.74 for Dow Jones industrial average, $36.08 for SPDR S&P Regional Banking ETF, 1,718.811 for Russell 2000
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| Downside thresholds: | 19,876.644 for Dow Jones industrial average, $21.648 for SPDR S&P Regional Banking ETF, 1,031.287 for Russell 2000, 60% of initial level
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| Strike date: | May 4
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774XK85
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