Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $595,000 autocallable jump notes on S&P, Dow, Russell
By Kiku Steinfeld
Chicago, Feb. 7 – Morgan Stanley Finance LLC priced $595,000 of jump securities with autocallable feature due Nov. 13, 2024 linked to S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 20% per year if the level of each underlying index is greater than or equal to its initial level on Nov. 8, 2023.
At maturity the payout will be par plus 40% 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 80% trigger level and investors will be fully exposed to the decline of the worst performing index if it finishes below its 80% 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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $595,000
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| Maturity: | Nov. 13, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 40% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 80% trigger level; otherwise full exposure to decline of worst performing index
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| Call: | Par plus 20% per year if the level of each underlying index is greater than or equal to its initial level on Nov. 8, 2023
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| Initial levels: | 32,827.00 for Dow, 1,809.810 for Russell, 3,806.80 for S&P
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| Downside thresholds: | 26,261.60 for Dow, 1,447.848 for Russell, 3,045.44 for S&P, 80% of initial level
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| Pricing date: | Nov. 7, 2022
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| Settlement date: | Nov. 10, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774HK23
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