Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.03 million autocallable jump securities linked to ETFs
Chicago, June 7 – Morgan Stanley Finance LLC priced $1.03 million of jump securities with autocallable feature due Nov. 27, 2024 linked to worst performing of the VanEck Vectors Gold Miners ETF, SPDR S&P Regional Banking ETF and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting May 23, 2022 at a price to give a return of 20% per year if the price of each underlying fund is greater than or equal to its initial price on any semiannual determination date.
At maturity the payout will be par plus 60% if the worst performing underlier finishes above its initial level.
The payout will be par if the worst performing ETF declines but finishes above its 60% trigger level and investors will be fully exposed to the decline of the worst performing ETF 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 ETFs: | VanEck Vectors Gold Miners ETF, SPDR S&P Regional Banking ETF and iShares Silver Trust
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| Amount: | $1,028,000
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| Maturity: | Nov. 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 60% if worst performing ETF finishes above its initial level; par if worst performing ETF declines but finishes above its 60% trigger level; otherwise, full exposure to decline of worst performing ETF
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| Call: | Automatically starting May 23, 2022 at a price to give a return of 20% per year if the price of each underlying fund is greater than or equal to its initial price on any semiannual determination date
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| Initial levels: | $33.00 for Gold, $74.27 for Regional Banking, $22.34 for Silver
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| Downside thresholds: | $19.80 for Gold, $44.562 for Regional Banking, $13.404 for Silver, 60% of initial levels
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| Pricing date: | Nov. 22, 2021
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| Settlement date: | Nov. 26, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61773HFT1
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