Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million buffered autocallable jump securities on indexes, ETF
New York, March 6 – Morgan Stanley Finance LLC priced $1 million of 0% buffered jump securities with autocallable feature due Feb. 26, 2027 linked to the iShares MSCI Emerging Markets ETF, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price of $1,170.50 per $1,000 principal amount if the closing level of each underlier is greater than or equal to its initial level on Feb. 26, 2025.
If the worst performing asset finishes at or above its initial level, the payout at maturity will be par plus 300% of that asset’s return.
Investors will receive par if the worst performing asset declines by 20% or less and will lose 1% for every 1% that the worst performing asset declines beyond 20%.
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 assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $1 million
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| Maturity: | Feb. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing asset gains, par plus 300% of that asset’s return; par if worst performing asset declines by no more than 20%; otherwise, 1% loss for every 1% that worst performing asset declines beyond 20%
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| Call: | Automatically at a price of $1,170.50 per $1,000 principal amount if the closing level of each underlier is greater than or equal to its initial level on Feb. 26, 2025
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| Initial levels: | $40.60 for iShares MSCI Emerging Markets ETF, 2,016.688 for Russell 2000, 4,872.57 for Euro Stoxx 50
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| Buffer levels: | $32.48 for iShares MSCI Emerging Markets ETF, 1,613.350 for Russell 2000, 3,898.056 for Euro Stoxx 50, 80% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771WH50
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