Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $953,000 autocallable jump securities on indexes
Chicago, April 23 – Morgan Stanley Finance LLC priced $953,000 of jump securities with autocallable feature due Jan. 30, 2029 linked to the worst performing of the Nasdaq-100 index, S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting July 25, 2024 at a price to give a return of 9% per year if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly determination date.
At maturity the payout will be par plus 45% if the worst performing index finishes above its initial level.
Investors will receive par if the worst performer declines but finishes above its 70% downside threshold level.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $953,000
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| Maturity: | Jan. 30, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 45% if the worst performing index finishes above its initial level; par if worst performer declines but finishes above threshold level; otherwise, full exposure to the decline of the worst performing index
|
| Call: | Automatically starting July 25, 2024 at a price to give a return of 9% per year if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly determination date
|
| Initial levels: | 17,516.99 for Nasdaq, 4,894.16 for S&P, 1,975.878 for Russell
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| Downside threshold levels: | 12,261.893 for Nasdaq, 3,425.912 for S&P, 1,383.115 for Russell; 70% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4%
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| Cusip: | 61771WKP2
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