Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $906,000 autocallable jump securities on indexes
Chicago, Aug. 21 – Morgan Stanley Finance LLC priced $906,000 of jump securities with autocallable feature due Aug. 3, 2027 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 14% if the level of each underlying index is greater than or equal to its initial level on Aug. 1, 2023.
The payout at maturity will be par plus 200% 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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $906,000
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| Maturity: | Aug. 3, 2027
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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 200% 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 a price to give a return of 14% if the level of each underlying index is greater than or equal to its initial level on Aug. 1, 2023
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| Initial levels: | 32,845.13 for Dow, 1,885.230 for Russell, 4,130.29 for S&P
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| Downside thresholds: | 22,991.591 for Dow, 1,319.661 for Russell, 2,891.203 for S&P, 70% of initial levels
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| Upside leverage: | 200%
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61774DN86
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