Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.58 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., April 4 – Morgan Stanley Finance LLC priced $1.58 million of 0% jump securities with autocallable feature due May 9, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 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 13.5% if each index closes at or above the call level, 102% of initial level, on any semiannual observation date after one year.
At maturity, if all indexes finish above their call levels, the payout will be $1,405 per security.
If the worst performing index finishes below its call level but at or above its 70% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1,580,000
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| Maturity: | May 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 13.5% if each index closes at or above call levels, 102% of initial levels, on any semiannual observation date after one year
|
| Payout at maturity: | $1,405 per security, 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
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| Initial levels: | 13,503.37 for Nasdaq, 2,241.366 for Russell, 34,230.34 for Dow
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| Call threshold levels: | 13,773.437 for Nasdaq, 2,286.193 for Russell, 34,914.947 for Dow; 102% of initial levels
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| Downside threshold levels: | 9,452.359 for Nasdaq, 1,568.956 for Russell, 23,961.238 for Dow; 70% of initial levels
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| Pricing date: | May 5, 2021
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| Settlement date: | May 10, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771VG20
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