Published on 12/10/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 autocallable jump securities linked to Russell, Nasdaq
Chicago, Dec. 11 – Morgan Stanley Finance LLC priced $250,000 of jump securities with autocallable feature due Nov. 5, 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 at par plus an annualized premium of 19% starting April 28, 2023 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 38% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $250,000
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| Maturity: | Nov. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 38% 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
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| Call: | Automatically at par plus 19% annualized premium starting April 28, 2023 if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 11,405.57 for Nasdaq, 1,846.863 for Russell
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| Downside thresholds: | 7,983.899 for Nasdaq, 1,292.804 for Russell, 70% of initial levels
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774HJP4
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