Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.14 million autocallable jump securities on S&P, Russell, Dow
New York, May 31 – Morgan Stanley Finance LLC priced $1.14 million of jump securities with autocallable feature due May 27, 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 at a price to give a return of 17% if the level of each underlying index is greater than or equal to its initial level on May 25, 2023.
The payout at maturity will be par plus 150% of the return of the worst performing index if the return of that index is positive.
The payout will be par if the worst performing index declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial 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: | $1,142,000
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| Maturity: | May 27, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 150% of that index's return; par if worst performing index declines but ends at or above downside threshold; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus 17% if each underlying index closes at or above its initial level on May 25, 2023
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| Initial levels: | 31,928.62 for Dow Jones industrial average, 1,764.826 for Russell 2000, 3,941.48 for S&P 500
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| Downside thresholds: | 22,350.034 for Dow Jones industrial average, 1,235.378 for Russell 2000, 2,759.036 for S&P 500, 70% of initial level
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| Pricing date: | May 24
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| Settlement date: | May 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61774DFV4
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