Published on 5/31/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $326,000 autocallable jump securities linked to Russell 2000, S&P 500
New York, May 31 – Morgan Stanley Finance LLC priced $326,000 of jump securities with autocallable feature due July 13, 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 automatically starting July 11, 2023 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to 90% of its initial level on any annual call determination date.
At maturity the payout will be par plus 46% if the worst performing underlier finishes above 90% of its initial level.
The payout will be par if worst performing index finishes below 90% of its initial level but above its 70% trigger level. Investors will be fully exposed to the decline of 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: | $326,000
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| Maturity: | July 13, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 46% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 90% of its initial level but above 70% trigger level; otherwise full exposure to decline of worst performing index
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| Call: | Automatically starting July 11, 2023 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to 90% of its initial level on any annual call determination date
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| Initial levels: | 1,769.365 for Russell 2000, 3,899.38 for S&P 500
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| Downside thresholds: | 1,238.556 for Russell 2000, 2,729.566 for S&P 500, 70% of initial level
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| Call threshold: | 1,592.429 for Russell 2000 index, 3,509.442 for S&P 500 index, 90% of initial levels
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| Pricing date: | July 8, 2022
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| Settlement date: | July 13, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774DXM4
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