Published on 10/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $793,000 autocallable jump securities linked to indexes
By Kiku Steinfeld
Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $793,000 of jump securities with autocallable feature due March 30, 2027 linked to 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 March 27, 2024 at a price to give a return of 14.5% per year if the level of each underlying index is greater than or equal to its initial level on any annual call determination date.
At maturity the payout will be par plus 58% if the worst performing underlier finishes above its initial level.
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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $793,000
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| Maturity: | March 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 58% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 70% trigger level; otherwise full exposure to decline of worst performing index
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| Call: | Automatically starting March 27, 2024 at a price to give a return of 14.5% per year if the level of each underlying index is greater than or equal to its initial level on any annual call determination date
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| Initial levels: | 32,237.53 for Dow, 12,767.05 for Nasdaq, 1,734.923 for Russell
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| Downside thresholds: | 22,566.271 for Dow, 8,936.935 for Nasdaq, 1,214.446 for Russell, 70% of initial level
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774T5F5
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