Published on 3/25/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $454,000 autocallable jump securities on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, March 27 – Morgan Stanley Finance LLC priced $454,000 of jump securities with autocallable feature due Dec. 6, 2027 linked to Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 22.5% if the level of each underlying index is greater than or equal to its initial level on Dec. 4, 2023
The payout at maturity will be par plus 150% of the return of the worst performing index if the return of that index is positive.
The payout will be par if the worst performing index declines but finishes above its 70% trigger level and investors will be fully exposed to the decline of the worst performing index if it finishes below its 70% 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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $454,000
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| Maturity: | Dec. 6, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 150% of that index's return; par if worst performing index declines but ends above downside threshold; full exposure to loss if worst performing index ends below downside threshold
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| Upside leverage: | 150%
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| Call: | Automatically at plus 22.5% if the level of each underlying index is greater than or equal to its initial level on Dec. 4, 2023
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| Initial levels: | 34,395.01 for Dow, 12,041.89 for Nasdaq, 1,881.678 for Russell
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| Downside thresholds: | 24,076.507 for Dow, 8,429.323 for Nasdaq, 1,317.175 for Russell, 70% of initial levels
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 6
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 61774H5H7
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