Published on 5/2/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $12.95 million autocallable jump securities linked to S&P, Dow, Russell
New York, May 2 – Morgan Stanley Finance LLC priced $12.95 million of jump securities with autocallable feature due April 29, 2027 linked to S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting April 26, 2023, the securities will be called automatically at par plus 10.44% per year if the closing level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date.
At maturity the payout will be par plus 52.2% if the worst performing underlier finishes above 90% of its initial level.
The payout will be par if worst performing index finishes below 90% of its initial level but above its 75% trigger level. Investors will be fully exposed to the decline of worst performing index if it finishes below its 75% trigger level.
The notes are guaranteed by Morgan Stanley.
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: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $12.95 million
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Maturity: | April 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 52.2% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 90% of its initial level but above 75% trigger level; otherwise, full exposure to decline of worst performing index
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Call: | Starting April 26, 2023, automatically at par plus 10.44% per year if each underlying index’s closing level is greater than or equal to 90% of its initial level on any quarterly call determination date
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Initial levels: | 33,811.40 for Dow Jones industrial average, 1,940.665 for Russell 2000 index, 4,271.78 for S&P 500 index
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Downside thresholds: | 25,358.55 for Dow Jones industrial average, 1,455.499 for Russell 2000 index, 3,203.835 for S&P 500 index, 75% of initial levels
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Call thresholds: | 30,430.26 for Dow Jones industrial average, 1,746.599 for Russell 2000 index, 3,844.602 for S&P 500 index, 90% of the initial levels
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Pricing date: | April 22
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Settlement date: | April 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61773QQ85
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