Published on 2/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $595,000 jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., Feb. 10 – Morgan Stanley Finance LLC priced $595,000 of 0% jump securities with autocallable feature due April 23, 2026 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 7% if each index closes at or above its initial level on any annual observation date.
At maturity, if all indexes finish above their initial levels, the payout will be $1,350 per security.
If the worst performing index finishes below its initial level but at or above its 70% downside threshold level, the payout will be par. If the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Jump securities with autocallable feature
|
Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
Amount: | $595,000
|
Maturity: | April 23, 2026
|
Coupon: | 0%
|
Price: | Par
|
Call: | At par plus an annual premium of 7% if each index closes at or above initial level on any annual observation date
|
Payout at maturity: | If all indexes finish above initial levels, $1,350 per security; if the worst performing index finishes below its initial level but at or above its downside threshold level, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
Initial levels: | 4,163.26 for S&P, 2,232.001 for Russell, 34,077.63 for Dow
|
Downside threshold levels: | 2,914.282 for S&P, 1,562.401 for Russell, 23,854.341 for Dow; 70% of initial levels
|
Pricing date: | April 19, 2021
|
Settlement date: | April 22, 2021
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 3.625%
|
Cusip: | 61771VVE7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.