Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.21 million autocallable dual directional buffered jump notes
By William Gullotti
Buffalo, N.Y., March 27 – Morgan Stanley Finance LLC priced $1.21 million of 0% dual directional buffered jump securities with autocallable feature due March 25, 2027 linked to the Dow Jones industrial average, the Nasdaq-100 Technology Sector index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be automatically called at par plus 9.6% call premium if each index closes at or above its initial level on March 25, 2025.
If the securities are not called and each index finishes at or above its initial level, the payout at maturity will be par plus 200% of the return of the least performing index.
If the worst performing index declines by up to 25%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 25%.
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: | Dual directional buffered jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 Technology Sector index, Russell 2000 index
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| Amount: | $1,208,000
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| Maturity: | March 25, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 200% of the return of the least performing index; if the worst performer falls by no more than 25%, par plus absolute value of that index’s return; otherwise, 1% loss for every 1% that worst performer declines beyond 25%
|
| Call: | Automatically at par plus 9.6% if each index closes at or above its initial level on March 25, 2025
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| Initial levels: | 39,781.37 for Dow, 10,472.44 for Nasdaq Tech, 2,098.561 for Russell
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| Downside thresholds: | 29,836.028 for Dow, 7,854.33 for Nasdaq Tech, 1,573.921 for Russell; 75% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61776LCB1
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