Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.36 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, Nov. 16 – Morgan Stanley Finance LLC priced $1.36 million of 0% jump securities with autocallable feature due Oct. 23, 2025 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 11.4% if each index closes at or above its initial level on any semiannual observation date starting Oct. 21, 2021.
The payout at maturity will be $1,570 per note if each index finishes at or above its initial level. If the worst performing index declines by up to 35%, the payout will be par. If the worst performing index finishes below its 65% downside threshold level, investors will be fully exposed to the decline.
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: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $1,362,000
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Maturity: | Oct. 23, 2025
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Coupon: | 0%
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Price: | Par
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Call: | At par plus an annual premium of 11.4% if each index closes at or above its initial level on any semiannual observation date starting Oct. 21, 2021
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Payout at maturity: | $1,570 per note if each index finishes at or above its initial level; if the worst performing index declines by up to 35%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline
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Initial levels: | 3,442.12 for S&P, 11,677.84 for Nasdaq, 28,308.79 for Dow
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Downside thresholds: | 2,238.028 for S&P, 7,590.596 for Nasdaq, 18,400.714 for Dow; 65% of initial levels
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Pricing date: | Oct. 20
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Settlement date: | Oct. 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.625%
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Cusip: | 61771EDA3
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