Published on 7/10/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $562,000 autocallable jump securities tied to three indexes
By Sarah Lizee
Olympia, Wash., July 10 – Morgan Stanley Finance LLC priced $562,000 of 0% jump securities with autocallable feature due July 7, 2023 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
After one year, the notes will be called at par plus an annual premium of 14% if each index closes at or above 95% of its initial level on any semiannual observation date.
The payout at maturity will be par plus 42% if each index finishes at or above 95% of its initial level. If the worst performing index declines by more than 5% but not by more than 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline.
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: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $562,000
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| Maturity: | July 7, 2023
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| Coupon: | 0%
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| Price: | Par
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| Call: | After one year, at par plus an annual premium of 14% if each index closes at or above 95% of its initial level on any semiannual observation date
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| Payout at maturity: | Par plus 42% if each index finishes at or above 95% of its initial level; if the worst performing index declines by more than 5% but not by more than 30%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline
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| Initial levels: | 10,279.25 for Nasdaq, 25,734.97 for Dow, 1,427.314 for Russell
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| Downside thresholds: | 7,195.475 for Nasdaq, 18,014.479 for Dow, 999.12 for Russell; 70% of initial levels
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| Pricing date: | July 1
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| Settlement date: | July 7
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61771BPZ1
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