Published on 11/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.5 million autocallable jump securities on Dow, Nasdaq
Chicago, Nov. 2 – Morgan Stanley Finance LLC priced $1.5 million of jump securities with autocallable feature due Oct. 30, 2026 linked to the worst performing of the Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Oct. 30, 2024 at a price to give a return of 11% per year if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date.
At maturity the payout will be par plus 33% 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: | Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1,497,000
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| Maturity: | Oct. 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 33% 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
|
| Call: | Automatically starting Oct. 30, 2024 at a price to give a return of 11% per year if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date
|
| Initial levels: | 32,417.59 for Dow, 14,180.42 for Nasdaq
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| Downside thresholds: | 22,692.313 for Dow, 9,926.294 for Nasdaq, 70% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61775MHT6
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