Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.74 million autocallable jump securities on indexes
Chicago, July 28 – Morgan Stanley Finance LLC priced $2.74 million of jump securities with autocallable feature due July 26, 2028 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting July 24, 2024 at a price to give a return of 8% per year if the 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 40% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $2.74 million
|
| Maturity: | July 26, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 40% 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
|
| Call: | Automatically starting July 24, 2024 at a price to give a return of 8% per year if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date
|
| Initial levels: | 35,227.69 for Dow, 1,960.255 for Russell, 4,536.34 for S&P
|
| Downside thresholds: | 26,420.768 for Dow, 1,470.191 for Russell, 3,402.255 for S&P, 75% of initial level
|
| Call threshold levels: | 31,704.921 for Dow, 1,764.230 for Russell, 4,082.706 for S&P, 90% of initial levels
|
| Pricing date: | July 21
|
| Settlement date: | July 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61775HFU6
|
|
|
© 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.
