Published on 3/18/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.15 jump securities with autocallable feature on Russell, S&P
By Taylor Fox
New York, March 18 – Morgan Stanley Finance LLC priced $2.15 million of 0% jump securities with autocallable feature due March 10, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 9.75% if each index closes at or above its initial level on any annual observation date.
At maturity, if the notes have not been called and all indexes finish above their initial levels, the payout will be par plus 39%.
If the worst performing index declines by up to 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 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: | Russell 2000 index and S&P 500 index
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| Amount: | $2,150,000
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| Maturity: | March 10, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 9.75% if each index closes at or above its initial level on any annual observation date
|
| Payout at maturity: | Par plus 39% if both indexes finish above initial level; if the worst performing index declines by up to 30%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
| Initial levels: | 3,841.94 for S&P, 2,192.212 for Russell
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| Downside thresholds: | 2,689.358 for S&P, 1,534.548 for Russell; 70% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61771VGR5
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