Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 jump notes linked to Morgan Stanley MAP Trend
By Angela McDaniels
Tacoma, Wash., May 15 – Morgan Stanley Finance LLC priced $250,000 of 0% jump notes with autocallable feature due June 4, 2027 linked to the Morgan Stanley MAP Trend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10.75% per year if the index closes at or above its redemption threshold level on any annual determination date. The redemption threshold level is 102.5% of the initial index level for the June 1, 2023 determination date and increases by 2.5% each year.
If the notes have not been called and the final index level is greater than the initial index level, the payout at maturity will be par plus the index return. If the final index level is less than the initial index level, the payout will be par.
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 notes with autocallable feature
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| Underlying indexes: | Morgan Stanley MAP Trend index
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| Amount: | $250,000
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| Maturity: | June 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes have not been called and final index level is greater than initial index level, par plus index return; otherwise, par
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| Call: | Automatically at par plus 10.75% per year if index closes at or above redemption threshold level on any annual determination date
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| Initial level: | 233.1
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| Redemption threshold: | 238.928, or 102.5% of initial level, on June 1, 2023; 244.755, or 105% of initial level, on May 31, 2024; 250.583, or 107.5% of initial level, on June 2, 2025; and 256.41, or 110% of initial level, on June 1, 2026
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773Q6B0
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