Published on 9/15/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., Sept. 15 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due June 28, 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 7.5% 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 par plus 22.5%.
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, Russell 2000 index, Dow Jones industrial average
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| Amount: | $250,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish above initial levels, $1,225 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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| Call: | At par plus an annual premium of 7.5% if each index closes at or above initial level on any semiannual observation date
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| Initial levels: | 14,345.18 for Nasdaq, 2,334.396 for Russell, 34,433.84 for Dow
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| Downside threshold levels: | 10,041.626 for Nasdaq, 1,634.077 for Russell, 24,103.688 for Dow; 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771VY53
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