Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $259,000 jump securities with autocallable feature on indexes
By Taylor Fox
New York, Oct. 29 – Morgan Stanley Finance LLC priced $259,000 of 0% jump securities with autocallable feature due Oct. 3, 2025 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 11.25% if each index closes at or above its initial level on an annual observation date.
At maturity, if all indexes finish above their initial levels, investors will receive $1,562.50 for each $1,000 of notes.
If worst performing index declines by up to 35%, the payout will be par. If the worst performing index finishes below its 65% downside threshold level, investors will be fully exposed to the decline.
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, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $259,000
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Maturity: | Oct. 3, 2025
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Coupon: | 0%
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Price: | Par
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Call: | At par plus an annual premium of 11.25% if each index closes at or above its initial level on an annual observation date
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Payout at maturity: | $1,562.50 per $1,000 of notes if all indexes finish above initial levels; par if the worst performing index declines by up to 35%; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline
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Initial levels: | 27,781.7 for Dow, 11,418.06 for Nasdaq and 1,507.692 for Russell
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Downside thresholds: | 18,058.105 for Dow, 7,421.739 for Nasdaq and 980 for Russell; 65% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.625%
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Cusip: | 61771BV43
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