Published on 9/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 buffered autocallable jump notes on indexes
By Kiku Steinfeld
Chicago, Sept. 12 – Morgan Stanley Finance LLC priced $250,000 of buffered jump securities with autocallable feature due Jan. 30, 2025 linked to Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Jan. 27, 2023 at par plus 7% per year if the closing level of each underlying index is greater than or equal to 102% of its initial level on any semiannual determination date.
If the worst performing index finishes above its call threshold level, the payout at maturity will be par plus 21%. Investors will receive par if the worst performing index finishes below its call threshold level but at or above its buffer level, 85% of its initial level, 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 Russell 2000 index
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| Amount: | $250,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes above its call threshold level, par plus 21%; par if worst performing index finishes below its call threshold level but at or above its buffer level; 1% loss for every 1% that worst performing index declines beyond 15%
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| Call: | Automatically starting Jan. 27, 2023 at par plus 7% per year if the level of each underlying index is greater than or equal to 102% of its initial level on any semiannual determination date
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| Initial levels: | 14,172.76 for Nasdaq, 1,976.464 for Russell
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| Buffer levels: | 12,046.846 for Nasdaq, 1,679.994 for Russell, 85% of initial level
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| Call threshold: | 14,456.215 for Nasdaq, 2,015.993 for Russell, 102% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.1%
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| Cusip: | 61773HYK9
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