Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $6.64 million jump securities with autocallable feature on indexes
Chicago, May 3 – Morgan Stanley Finance LLC priced $6.64 million of 0% jump securities with autocallable feature due Sept. 27, 2027 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, 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 11.7% if each index closes at or above its call level, 100% its initial level, on any semiannual observation date after one year.
At maturity, if all indexes finish above their call levels, the payout will be par plus 76.05%.
If the worst performing index finishes below its call level but at or above its 75% downside threshold level, the payout will be par. If the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
| Amount: | $6,643,000
|
| Maturity: | Sept. 27, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 11.7% if each index closes at or above initial level on any semiannual observation date after one year
|
| Payout at maturity: | Par plus 76.05% if all indexes finish above call levels; if the worst performing index finishes below its call level but at or above its downside threshold level, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
| Initial levels: | 3,913.10 for S&P 500, 2,287.545 for Russell, 32,627.97 for Dow
|
| Downside threshold levels: | 2,934.825 for S&P 500, 1,715.659 for Russell, 24,470.978 for Dow; 75% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61771VHS2
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