Morgan Stanley plans autocallable jump securities tied to S&P, Russell

By Sarah Lizee

Olympia, Wash., Oct. 16 – Morgan Stanley Finance LLC plans to price 0% jump securities with autocallable feature due Oct. 25, 2023 linked to the worst performing of the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will be called at par plus an annual premium of 10.5% if each index closes at or above its initial level on any quarterly review date after one year.

The payout at maturity will be par plus 42% if each index finishes at or above its initial level. If the worst performing index declines by no more than 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.

Morgan Stanley & Co. LLC is the underwriter.

The notes will price on Oct. 18.

The Cusip number is 61769HWR2.

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