Published on 11/27/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $670,000 dual directional jump notes on S&P, Dow
Chicago, Nov. 27 – Morgan Stanley Finance LLC priced $670,000 of 0% dual directional jump securities with autocallable feature due Oct. 26, 2027 linked to the worst performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be automatically called at par plus an 12.5% call premium if each index closes at or above its initial level on Oct. 24, 2023.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the laggard index.
If the worst performer declines by 40% or less, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional jump securities with autocallable feature
|
| Underlying indexes: | Dow Jones industrial average, S&P 500 index
|
| Amount: | $670,000
|
| Maturity: | Oct. 26, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus the return of the laggard index; if the worst performer declines by no more than 40%, par plus absolute value of that index’s return; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus 12.5% call premium if each index closes at or above initial level on Oct. 24, 2023
|
| Initial levels: | 31,082.56 for Dow, 3,752.75 for S&P
|
| Downside thresholds: | 18,649.536 for Dow, 2,251.65 for S&P; 60% of initial levels
|
| Pricing date: | Oct. 21, 2022
|
| Settlement date: | Oct. 26, 2022
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.625%
|
| Cusip: | 61774HVY1
|
|
|
© 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.
