Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.34 million autocallable jump securities linked to indexes, ETF
New York, June 26 – Morgan Stanley Finance LLC priced $3.34 million of jump securities with autocallable feature due March 20, 2025 linked to the Dow Jones industrial average, the Russell 2000 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a call premium of 13% per year if the closing level of each underlier is greater than or equal to its initial level on any monthly determination date starting Sept. 18.
At maturity, the payout will be par plus 22.75% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing asset declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing asset 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 Technology Select Sector SPDR Fund
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| Amount: | $3.34 million
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| Maturity: | March 20, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 22.75% if worst performing asset finishes at or above its initial level; par if worst performing asset declines but finishes at or above its 70% trigger level; otherwise, full exposure to decline of worst performing asset from initial level
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| Call: | Automatically at par plus a call premium of 13% per year if the closing level of each underlier is greater than or equal to its initial level on any monthly determination date starting Sept. 18
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| Initial levels: | 34,299.12 for Dow Jones industrial average, 1,875.467 for Russell 2000, $173.19 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 24,009.384 for Dow Jones industrial average, 1,312.827 for Russell 2000, $121.233 for Technology Select Sector SPDR Fund, 70% of initial level
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| Pricing date: | June 16
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| Settlement date: | June 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61774X4L4
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