Published on 11/13/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.14 million autocallable jump securities on indexes, ETF
New York, Nov. 13 – Morgan Stanley Finance LLC priced $1.14 million of jump securities with autocallable feature due Aug. 11, 2025 linked to the Dow Jones industrial average, the Russell 2000 index and the Technology Select Sector SPDR Fund, 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 11.5% per year if the closing level of each underlier is greater than or equal to its initial level on any monthly determination date starting Feb. 6, 2024.
At maturity, the payout will be par plus 20.125% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing asset declines but finishes at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing asset from its initial 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 assets: | Dow Jones industrial average, Russell 2000 index and Technology Select Sector SPDR Fund
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| Amount: | $1,138,000
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| Maturity: | Aug. 11, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 20.125% if worst performing asset finishes at or above its initial level; par if worst performing asset declines but finishes at or above its 70% trigger level; otherwise, full exposure to decline of worst performing asset
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| Call: | Automatically at a price to give a return of 11.5% per year if the closing level of each underlier is greater than or equal to its initial level on any monthly determination date starting Feb. 6, 2024
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| Initial levels: | 34,095.86 for Dow Jones industrial average, 1,737.939 for Russell 2000, $172.89 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 23,867.102 for Dow Jones industrial average, 1,216.557 for Russell 2000, $121.023 for Technology Select Sector SPDR Fund, 70% of initial level
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 9
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61775MMW3
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