Published on 3/19/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.4 million jump securities with autocallable feature on indexes
By Taylor Fox
New York, March 19 – Morgan Stanley Finance LLC priced $5.4 million of 0% jump securities with autocallable feature due March 12, 2026 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 5.15% if each index closes at or above its initial level on any quarterly observation date after six months.
At maturity, if all indexes finish at or above their downside threshold levels, 50% of their initial levels, then the payout will be par plus 25.75%. If the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $5.4 million
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| Maturity: | March 12, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 5.15% if each index closes at or above its initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par plus 25.75% if all indexes finish above downside threshold levels; otherwise, investors will be fully exposed to decline of worst performing index
|
| Initial levels: | 12,299.08 for Nasdaq, 2,202.985 for Russell, 3,821.35 for S&P
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| Downside threshold levels: | 6,149.54 for Nasdaq, 1,101.493 for Russell, 1,910.675 for S&P; 50% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61771U490
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