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Morgan Stanley to price autocallable jump securities on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 15 – Morgan Stanley Finance LLC plans to price 0% jump securities with autocallable feature due May 26, 2022 linked to the worst performing of the S&P 500 index and the 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 automatically called at par plus 17% per year if each index closes at or above its initial level on the annual determination date.
The payout at maturity will be par plus 2 times the return of the lesser performing index 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 May 22.
The Cusip number is 61771BFH2.
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