Published on 9/20/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $400,000 autocallable jump securities linked to Russell, Nasdaq
Chicago, Sept. 20 – Morgan Stanley Finance LLC priced $400,000 of jump securities with autocallable feature due Sept. 6, 2024 linked to the worst performing of the Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Feb. 28, 2023 at a price to give a return of 16% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par plus 32% if the worst performing underlier finishes above its initial level.
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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $400,000
|
| Maturity: | Sept. 6, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 32% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 70% trigger level; otherwise, full exposure to decline of worst performing index
|
| Call: | Automatically starting Feb. 28, 2023 at a price to give a return of 16% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
|
| Initial levels: | 12,272.03 for Nasdaq, 1,844.115 for Russell
|
| Downside thresholds: | 8,590.421 for Nasdaq, 1,290.881 for Russell, 70% of initial levels
|
| Pricing date: | Aug. 31, 2022
|
| Settlement date: | Sept. 6, 2022
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61774DN29
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
