Published on 5/19/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.27 million autocallable jump securities on three indexes
New York, May 19 – Morgan Stanley Finance LLC priced $3.27 million of jump securities with autocallable feature due May 16, 2025 linked to 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 securities will be called automatically starting May 16, 2023 at a price to give a return of 17.15% per year if the level of each underlying index is greater than or equal to its initial level on any semi-annual determination date.
At maturity, the payout will be par plus 51.45% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing index declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $3,268,000
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Maturity: | May 16, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 51.45% if worst performing index finishes at or above its initial level; par if worst performing index declines but finishes at or above its 70% trigger level; otherwise full exposure to decline of worst performing index
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Call: | Automatically starting May 16, 2023 at a price to give a return of 17.15% per year if the level of each underlying index is greater than or equal to its initial level on any semi-annual determination date
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Initial levels: | 32,196.66 for Dow Jones industrial average, 12,387.40 for Nasdaq-100, 1,792.666 for Russell 2000
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Downside thresholds: | 22,537.662 for Dow Jones industrial average, 8,671.18 for Nasdaq-100, 1,254.866 for Russell 2000, 70% of initial level
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61774DCN5
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