Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 jump securities linked to Dow, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., June 28 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due July 29, 2027 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 notes will be automatically called at par plus 11.5% per year if each index closes at or above its initial level on any annual determination date.
If the final index level of each index is greater than or equal to its initial index level, the payout at maturity will be par plus 57.5%.
If the final index level of any index is less than its initial index level but the final index level of each index is greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final index level of any underlying index is less than its downside threshold level, investors will be exposed to the decline of the worst performing index.
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: | $250,000
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| Maturity: | July 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level of each index is greater than or equal to initial index level, par plus 57.5%; if final index level of any index is less than initial index level but final index level of each index is greater than or equal to downside threshold level, par; otherwise, exposure to decline of worst performing index
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| Call: | Automatically at par plus 11.5% per year if each index closes at or above initial level on any annual determination date
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| Initial levels: | 31,761.54 for Dow, 12,086.90 for Nasdaq and 1,805.246 for Russell
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| Downside thresholds: | 22,233.078 for Dow, 8,460.83 for Nasdaq and 1,263.672 for Russell, or 70% of initial levels
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61774DTZ0
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