Published on 12/4/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $615,000 0% autocallable jump securities linked to Nasdaq, Dow, Russell
New York, Dec. 4 – Morgan Stanley Finance LLC priced $615,000 of jump securities with autocallable feature due April 1, 2024 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 29, 2022 if on any monthly determination date all indexes close above their initial levels. The notes will be called at par plus a 13% annualized premium.
At maturity the payout will be par plus 39% if the worst performing index 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 is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with auto-callable feature
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| Underlying indexes: | Nasdaq-100 index, Dow Jones Industrial Average and Russell 2000 index
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| Amount: | $615,000
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| Maturity: | April 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 39% if the worst performing index finishes above its initial level; par if the worst performing index declines but closes above its downside threshold level; otherwise full exposure to the decline of the worst performing index
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| Call: | Automatically starting March 29, 2022 on any monthly determination date if all indexes finish above their initial levels; called at par plus an annualized 13% redemption premium
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| Initial level: | 33,072.88 for Dow Jones Industrial Average, 12,979.12 for Nasdaq-100 index, 2,221.482 for Russell 2000 index
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| Downside threshold: | 23,151.016 for Dow Jones Industrial Average, 9,085.384 for Nasdaq-100 index, 1,555.037 for Russell 2000 index, 70% of initial level
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771VMB3
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