Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $430,000 autocallable jump securities on indexes
Chicago, Aug. 14 – Morgan Stanley Finance LLC priced $430,000 of jump securities with autocallable feature due July 31, 2028 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 12% if the level of each underlying index is greater than or equal to its initial level on Aug. 2, 2024.
The payout at maturity will be par plus 150% of the return of the worst performing index if the return of that index is positive.
The payout will be par if the worst performing index declines but finishes above its 70% trigger level and investors will be fully exposed to the decline of the worst performing index if it finishes below its 70% trigger 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 indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $430,000
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| Maturity: | July 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 150% of that index's return; par if worst performing index declines but ends above downside threshold; full exposure to loss if worst performing index ends below downside threshold
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| Call: | Automatically at par plus 12% if the level of each underlying index is greater than or equal to its initial level on Aug. 2, 2024
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| Initial levels: | 35,520.12 for Dow, 15,499.26 for Nasdaq, 1,980.355 for Russell
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| Downside thresholds: | 24,864.084 for Dow, 10,849.482 for Nasdaq, 1,386.249 for Russell, 70% of initial levels
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| Upside leverage: | 150%
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61775HFE2
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