Published on 3/16/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.44 million autocallable jump securities on S&P, Dow, Russell
New York, March 16 – Morgan Stanley Finance LLC priced $5.44 million of jump securities with autocallable feature due March 16, 2027 linked to the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting March 14, 2023 at a price to give a return of 13.7% per year if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date.
At maturity the payout will be par plus 68.5% if the worst performing index finishes above its initial level.
The payout will be par if the worst performing index finishes below its initial level but at or above its 75% downside threshold level.
Investors will be fully exposed to the decline of the worst performing index if it finishes below its 75% downside threshold 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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $5.44 million
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| Maturity: | March 16, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 68.5% if the worst performing index finishes above its initial level; par if worst performing index finishes below initial level but at or above downside threshold level; otherwise, full exposure to the decline of the worst performing index
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| Call: | Automatically starting March 14, 2023 at a price to give a return of 13.7% per year if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date
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| Initial levels: | 32,944.19 for Dow Jones industrial average, 1,979.668 for Russell 2000 index, 4,204.31 for S&P 500 index
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| Downside thresholds: | 24,708.143 for Dow Jones industrial average, 1,484.751 for Russell 2000 index, 3,153.233 for S&P 500 index, 75% of initial level
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61773QLN7
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