Published on 12/19/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.05 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, Dec. 21 – Morgan Stanley Finance LLC priced $1.05 million of 0% jump securities with autocallable feature due Dec. 20, 2023 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the MSCI Emerging Markets 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 9.65% if each index closes at or above its initial level on any quarterly observation date after one year.
At maturity, if the notes have not been called and each index finishes above its 70% downside threshold level, the payout will be par plus 28.95%.
If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and MSCI Emerging Markets index
|
| Amount: | $1,050,000
|
| Maturity: | Dec. 20, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 9.65% if each index closes at or above its initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus 28.95% if all indexes finish above 70% of their initial levels; if worst performing index finishes below its downside threshold level, investors will be fully exposed to that index’s decline
|
| Initial levels: | 3,663.46 for S&P, 1,257.66 for MSCI and 1,911.697 for Russell
|
| Downside thresholds: | 2,564.422 for S&P, 880.362 for MSCI and 1,338.188 for Russell; 70% of initial levels
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61771ETW8
|
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