Published on 10/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 autocallable jump securities linked to index, fund
By Kiku Steinfeld
Chicago, Oct. 21 – Morgan Stanley Finance LLC priced $250,000 of jump securities with autocallable feature due Feb. 23, 2026 linked to S&P 500 index and Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Feb. 22, 2023 at a price to give a return of 9% per year on any annual call determination date.
At maturity the payout will be par plus 36% if the worst performing underlier finishes above 90% of its initial level.
The payout will be par if worst performing asset finishes below 90% of its initial level but above its 70% trigger level. Investors will be fully exposed to the decline of worst performing asset if it finishes below its 70% trigger 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: | S&P 500 index and Energy Select Sector SPDR Fund
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| Amount: | $250,000
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| Maturity: | Feb. 23, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 36% if worst performing asset finishes above its call threshold level; par if worst performing asset finishes below 90% of its initial level but above 70% trigger level; otherwise full exposure to decline of worst performing asset
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| Call: | Automatically starting Feb. 22, 2023 at a price to give a return of 9% per year on any annual call determination date
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| Initial levels: | 4,348.87 for S&P, $68.05 for Energy
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| Downside thresholds: | 3,044.209 for S&P, $47.635 for Energy, 70% of initial level
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| Call threshold: | 3,913.983 for S&P, $61.245 for Energy, 90% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61773H2R9
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