Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.68 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, March 25 – Morgan Stanley Finance LLC priced $2.68 million of 0% jump securities with autocallable feature due March 17, 2026 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 9.5% if each index closes at or above its initial level on any annual observation date.
At maturity, if all indexes finish at or above their initial levels, then the payout will be par plus 47.5%. If any index finishes below its initial level but each index finishes at or above its downside threshold level, 65% of its initial 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $2,675,000
|
| Maturity: | March 17, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 9.5% if each index closes at or above its initial level on any annual observation date
|
| Payout at maturity: | Par plus 47.5% if all indexes finish above initial levels; par if any index finishes below initial level but each index finishes at or above downside threshold level; otherwise, investors will be fully exposed to decline of worst performing index
|
| Initial levels: | 32,778.64 for Dow, 2,352.789 for Russell, 12,937.29 for Nasdaq
|
| Downside threshold levels: | 21,306.116 for Dow, 1,529.313 for Russell, 8,409.239 for Nasdaq; 65% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.625%
|
| Cusip: | 61771VHK9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
