Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.41 million buffered autocallables linked to Russell 2000, S&P 500
New York, April 26 – Morgan Stanley Finance LLC priced $1.41 million of 0% buffered jump securities with autocallable feature due April 6, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 16.6% if the closing level of each underlying index is greater than or equal to 105% of its initial level on April 3, 2024.
If the worst performing index finishes above its initial level, the payout at maturity will be par plus 175% of the worst performing index return. Investors will receive par if the worst performing index finishes below its initial level but declines by 10% or less and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | Buffered jump securities with autocallable feature
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,408,000
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Maturity: | April 6, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains par plus 175% of worst performing index return; par if worst performing index declines but by no more than 10% buffer; 1% loss for every 1% that worst performing index declines beyond the buffer
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Call: | Automatically at par plus 16.6% if the closing level of each underlying index is greater than or equal to 105% of its initial level on April 3, 2024
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Initial levels: | 1,802.484 for Russell 2000, 4,109.31 for S&P 500
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Buffer levels: | 1,622.236 for Russell 2000, 3,698.379 for S&P 500, 90% of initial levels
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Call threshold: | 1,892.608 for Russell 2000, 4,314.776 for S&P 500, 105% of initial levels
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61774XAP8
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