Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.34 million autocallable jump securities on indexes
Chicago, Aug. 14 – Morgan Stanley Finance LLC priced $1.34 million of jump securities with autocallable feature due July 31, 2028 linked to the worst performing of the Nasdaq-100 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 29, 2024 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any quarterly call determination date.
At maturity the payout will be par plus 57.5% if the worst performing underlier finishes above 95% of its initial level.
The payout will be par if worst performing index finishes below 95% of its initial level but above its 70% trigger level. Investors will be fully exposed to the decline of 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,337,000
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| Maturity: | July 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 57.5% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 95% of its initial level but above 70% trigger level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting July 29, 2024 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any quarterly call determination date
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| Initial levels: | 35,520.12 for Dow, 15,499.26 for Nasdaq, 1,980.355 for Russell
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| Call threshold: | 33,744.114 for Dow, 14,724.297 for Nasdaq index, 1,881.337 for Russell, 95% of initial levels
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| Downside thresholds: | 24,864.084 for Dow, 10,849.482 for Nasdaq, 1,386.249 for Russell, 70% of initial level
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61775HNT0
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