Published on 6/10/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $8.22 million jump securities with autocallable feature on indexes
By Kiku Steinfeld
Chicago, June 10 – Morgan Stanley Finance LLC priced $8.22 million of 0% jump securities with autocallable feature due May 10, 2024 linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 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 10% if each index closes at or above its initial level, on any semiannual observation date.
At maturity, if all indexes finish above their initial levels, the payout will be $1,300 per security.
If the worst performing index finishes below its initial 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, Dow Jones industrial average, Russell 2000 index
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| Amount: | $8,218,000
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| Maturity: | May 10, 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 10% if each index closes at or above initial level on any semiannual observation date
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| Payout at maturity: | If all indexes finish above their initial levels, $1,300 per security; if the worst performing index finishes below its initial 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: | 34,777.76 for Dow, 13,719.63 for Nasdaq, 2,271.629 for Russell
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| Downside threshold levels: | 24,344.432 for Dow, 9,603.741 for Nasdaq, 1,590.14 for Russell; 70% of initial levels
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| Pricing date: | May 7
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| Settlement date: | May 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771VH60
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