Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.38 million autocallable jump securities tied to three indexes
New York, April 26 – Morgan Stanley Finance LLC priced $2.38 million of jump securities with autocallable feature due April 22, 2027 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 11.35% per year if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting April 23, 2025.
The payout at maturity will be par plus 150% of the return of the worst performing index if the return of that index is positive.
The payout will be par if the worst performing index declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
The notes are guaranteed by Morgan Stanley.
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: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $2.38 million
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| Maturity: | April 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 150% of that index's return; par if worst performing index declines but ends at or above downside threshold; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically at a price to give a return of 11.35% per year if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting April 23, 2025
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| Initial levels: | 17,037.65 for Nasdaq-100, 1,947.656 for Russell 2000, 4,967.23 for S&P 500
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| Downside thresholds: | 11,926.355 for Nasdaq-100, 1,363.359 for Russell 2000, 3,477.061 for S&P 500, 70% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.15%
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| Cusip: | 61776LVM6
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