Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.51 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, Nov. 16 – Morgan Stanley Finance LLC priced $3.51 million of 0% jump securities with autocallable feature due Oct. 21, 2025 linked to the worst performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 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 11.25% if each index closes at or above its initial level on any annual observation date.
The payout at maturity will be par plus 56.25% if each index finishes at or above its initial level. If the worst performing index declines by up to 20%, the payout will be par. If the worst performing index finishes below its 80% 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: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $3,505,000
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| Maturity: | Oct. 21, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus an annual premium of 11.25% if each index closes at or above its initial level on any annual observation date
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| Payout at maturity: | Par plus 56.25% if each index finishes at or above its initial level; if the worst performing index declines by up to 20%, 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: | 3,483.81 for S&P, 11,852.17 for Nasdaq, 28,606.31 for Dow
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| Downside thresholds: | 2,787.048 for S&P, 9,481.736 for Nasdaq, 22,885.048 for Dow; 80% of initial levels
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61771D688
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