Published on 11/30/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $501,000 buffered autocallable jump notes on indexes
By Kiku Steinfeld
Chicago, Nov. 30 – Morgan Stanley Finance LLC priced $501,000 of 0% buffered jump securities with autocallable feature due April 17, 2026 linked to the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 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 17.5% if the level of each underlying index is greater than or equal to its initial level on April 17, 2024.
If the worst performing index finishes above its initial level, the payout at maturity will be par plus 150% of the worst performing index return. Investors will receive par if the worst performing index finishes below its initial level but declines by 15% or less and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | Buffered jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $501,000
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| Maturity: | April 17, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 150% of worst performing index return; par if worst performing index declines but by no more than 15% buffer; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically at a price to give a return of 17.5% if the level of each underlying index is greater than or equal to its initial level on April 17, 2024
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| Initial levels: | 33,886.47 for Dow, 13,079.52 for Nasdaq, 1,781.154 for Russell
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| Buffer levels: | 28,803.500 for Dow, 11,117.592 for Nasdaq, 1,513.981 for Russell, 85% of initial level
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| Pricing date: | April 14, 2023
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| Settlement date: | April 19, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774XQY2
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