Published on 3/27/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 autocallable buffered jump securities on Russell, Nasdaq
Chicago, March 29 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities with autocallable feature due Feb. 28, 2024 linked to the worse performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus a premium if each index closes at or above its call level on a semiannual call date starting after one year. The premium is 8.5% per year. The call level for each index will be 102% of its initial level.
If each index finishes at or above its call level, the payout at maturity will be par plus 25.5%.
If either index finishes at less than 102% of its initial level and does not fall more than 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered jump securities with autocallable feature
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000
|
| Amount: | $250,000
|
| Maturity: | Feb. 28, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 102% of its initial level, par plus 25.5%; if either index is less than its call value but does not fall more than 15%, par; 1% loss for every 1% that the lesser-performing underlying index declines beyond buffer
|
| Call: | Automatically at par plus an annual 8.5% premium if each index closes at or above its call level on any semiannual call date starting after one year; call level for each index will be 102% of its initial level
|
| Initial levels: | 13,194.71 for Nasdaq, 2,231.314 for Russell
|
| Call levels: | 13,458.604 for Nasdaq, 2,275.940 for Russell, 102% of initial levels
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| Buffer levels: | 11,215.504 for Nasdaq, 1,896.617 for Russell, 85% of initial levels
|
| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
|
| Cusip: | 61771E2P2
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