Published on 3/24/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.47 million buffered autocallable jump securities linked to Nasdaq, Dow
New York, March 24 – Morgan Stanley Finance LLC priced $10.47 million of 0% buffered jump securities with autocallable feature due Sept. 23, 2024 linked to the Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting March 21, 2023 at a price to give a return of 11.16% per year if the level of each underlying index is greater than or equal to its initial level and on any subsequent determination date.
If the worst performing index finishes above its initial level, the payout at maturity will be par plus 125% of the worst performing index return. Investors will receive par if the worst performing index finishes below its initial level but declines by 15% or less and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | Buffered jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $10,474,000
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| Maturity: | Sept. 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 125% of worst performing index return; par if worst performing index declines but by no more than 15% buffer; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting March 21, 2023 at a price to give a return of 11.16% per year if the level of each underlying index is greater than or equal to its initial level and on any subsequent determination date
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| Initial level: | 34,754.93 for Dow Jones industrial average, 14,420.08 for Nasdaq-100 index
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| Buffer level: | 29,541.691 for Dow Jones industrial average, 12,257.068 for Nasdaq-100 index, 85% of initial level
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.79%
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| Cusip: | 61773QQE2
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