Chicago, March 25 – Morgan Stanley Finance LLC priced $1.48 million of 0% jump securities with autocallable feature due Feb. 5, 2026 linked to the worst performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the SPDR Dow Jones Industrial Average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus an annualized premium of 7.2% on a quarterly basis after one year if all funds finish above their respective redemption threshold level related to that observation date.
The redemption threshold is 100% on the first redemption date and drops 2.5% on each subsequent quarter until the 16th determination date when the redemption threshold is 62.5%.
If all funds finish above 60% of their initial values, and the notes have not yet been called, the payout at maturity will be par plus 36%.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying funds: | SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the SPDR Dow Jones Industrial Average ETF trust
|
| Amount: | $1,480,000
|
| Maturity: | Feb. 5, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | After one year, callable quarterly at an annualized premium of 7.2% if all funds close above their related redemption threshold levels; redemption threshold level starts at par and decreases 2.5% each quarter
|
| Payout at maturity: | Par plus 36% if all funds finish above 60% of their initial level; otherwise, full exposure to losses of worst performer
|
| Initial levels: | $376.23 for S&P, $210.61 for Russell and $302.02 for Dow
|
| Downside threshold levels: | $225.738 for S&P, $126.366 for Russell and $181.212 for Dow; 60% of initial levels
|
| Pricing date: | Feb. 1
|
| Settlement date: | F 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.1%
|
| Cusip: | 61771EW20
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
