Published on 4/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $340,000 autocallable jump securities on Dow, S&P
By Kiku Steinfeld
Chicago, April 6 – Morgan Stanley Finance LLC priced $340,000 of jump securities with autocallable feature due Dec. 17, 2027 linked to Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 16.5% per year if the level of each underlying index is greater than or equal to its initial level on Dec. 15, 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 60% trigger level, and investors will be fully exposed to the decline of the worst performing index if it finishes below its 60% trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Dow Jones industrial average and S&P 500 index
|
| Amount: | $340,000
|
| Maturity: | Dec. 17, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| 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
|
| Upside leverage: | 100%
|
| Call: | Automatically at a price to give a return of 16.5% per year if the level of each underlying index is greater than or equal to its initial level on Dec. 15, 2023
|
| Initial levels: | 33,966.35 for Dow, 3,995.32 for S&P
|
| Downside thresholds: | 20,379.81 for Dow, 2,397.192 for S&P, 60% of initial level
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 19
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.625%
|
| Cusip: | 61774TCS9
|
|
|
© 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.
