Published on 4/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.82 million dual directional jump autocalls on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, April 11 – Morgan Stanley Finance LLC priced $1.82 million of 0% dual directional jump securities with autocallable feature due April 8, 2027 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus 14% if each index closes at or above its call level on April 7, 2025. The call level for each index will be its initial level.
If each index finishes at or above its initial level, the payout will be par plus 1.5 times the return of the least performing index.
If any index falls by up to 30%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to the decline of the least performing index.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,818,000
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| Maturity: | April 8, 2027
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 14% if each index closes at or above call level on April 7, 2025; call level for each index will initial level
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 1.5 times return of the least performing index; if any index falls by up to 30%, par plus the absolute value of the return of the lesser performing index; otherwise, investors will be exposed to the decline of the least performing index
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| Initial levels: | 38,596.98 for Dow, 17,878.78, for Nasdaq, 2,053.828 for Russell
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| Barrier levels: | 27,017.886 for Dow, 12,515.146 for Nasdaq, 1,437.68 for Russell; 70% of initial levels
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| Pricing date: | April 4
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| Settlement date: | April 9
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61776LPM3
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