Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $529,000 jump autocalls on Nasdaq, Russell
By Kiku Steinfeld
Chicago, July 16 – Morgan Stanley Finance LLC priced $529,000 of 0% jump securities with autocallable feature due May 31, 2023 linked to the lesser performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 8% per year if each index closes at or above its initial level on any quarterly determination date after six months.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 16%.
If the final level of either index is less than its initial level but the final level of each index is greater than or equal to its 70% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines.
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: | Russell 2000, Nasdaq-100
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| Amount: | $529,000
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| Maturity: | May 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 16%; if final level of either index is less than its initial level but final level of each index is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines
|
| Call: | Automatically at par plus 8% per year if each index closes at or above its initial level on any quarterly determination date after six months
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| Initial levels: | 13,657.73 for Nasdaq, 2,205.750 for Russell
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| Barrier levels: | 9,560.411 for Nasdaq, 1,544.025 for Russell; 70% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.537%
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| Cusip: | 61771VYV6
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