Published on 6/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 buffered autocallable jump notes on S&P, Russell
By Kiku Steinfeld
Chicago, June 15 – Morgan Stanley Finance LLC priced $250,000 of buffered jump securities with autocallable feature due Jan. 29, 2026 linked to S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Jan. 29, 2024 at par plus 9.25% per year if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus 27.75%. Investors will receive par if the worst performing index finishes below its initial level but declines by 15% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $250,000
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| Maturity: | Jan. 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial level, par plus 27.75%; par if worst performing index finishes below initial level but declines by 15% or less; 1% loss for every 1% that worst performing index declines beyond 15%
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| Call: | Automatically starting Jan. 29, 2024 at par plus 9.25% per year if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date
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| Initial levels: | 1,903.064 for Russell, 4,060.43 for S&P
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| Buffer levels: | 1,617.604 for Russell, 3,451.366 for S&P, 85% of initial levels
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61774TGR7
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