Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.21 million autocallable jump securities on Russell, S&P
New York, Nov. 4 – Morgan Stanley Finance LLC priced $4.21 million of 0% jump securities with autocallable feature due Nov. 2, 2026 linked to Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called at par plus 17.25% per year automatically starting Nov. 3, 2023 if the level of each underlying index is greater than or equal to its initial level on any annual call determination date.
At maturity the payout will be par plus 69% if the worst performing underlier finishes above its initial level.
The payout will be par if the worst performing index declines but finishes above its 70% trigger level, and investors will be fully exposed to the decline of the worst performing index if it finishes below its 70% trigger 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: | Russell 2000 index and S&P 500 index
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| Amount: | $4,209,000
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| Maturity: | Nov. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 69% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 70% trigger level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically at par plus 17.25% per year starting Nov. 3, 2023 if the level of each underlying index is greater than or equal to its initial level on any annual call determination date
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| Initial levels: | 1,846.921 for Russell 2000, 3,901.06 for S&P 500
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| Downside thresholds: | 1,292.845 for Russell 2000, 2,730.742 for S&P 500, 70% of initial level
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774HTT5
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