Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $825,000 autocallable jump securities on Nasdaq, Dow, Russell
New York, July 31 – Morgan Stanley Finance LLC priced $825,000 of jump securities with autocallable feature due July 27, 2028 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 July 25, 2024 at a price to give a return of 9% per year if the level of each underlying index is greater than or equal to its initial level on any annual call determination date.
At maturity the payout will be par plus 45% if the worst performing underlier finishes above its initial level.
The payout will be par if the worst performing index declines but finishes above its 60% trigger level and investors will be fully exposed to the decline of the worst performing index if it finishes below its 60% 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 indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $825,000
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| Maturity: | July 27, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 45% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 60% trigger level; otherwise full exposure to decline of worst performing index
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| Call: | Automatically starting July 25, 2024 at a price to give a return of 9% per year if the level of each underlying index is greater than or equal to its initial level on any annual call determination date
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| Initial levels: | 35,411.24 for Dow Jones industrial average, 15,448.02 for Nasdaq-100, 1,965.678 for Russell 2000
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| Downside thresholds: | 21,246.744 for Dow Jones industrial average, 9,268.812 for Nasdaq-100, 1,179.407 for Russell 2000, 60% of initial level
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| Pricing date: | July 24
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| Settlement date: | July 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61775HNN3
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