Published on 12/28/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.47 million autocallable jump securities on three indexes
New York, Dec. 29 – Morgan Stanley Finance LLC priced $1.47 million of jump securities with autocallable feature due Dec. 27, 2024 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting June 21, 2022 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to its initial price on any semiannual determination date.
At maturity the payout will be par plus 34.5% if the worst performing index finishes above its initial level.
The payout will be par if the worst performing index declines but finishes above its 70% trigger level and investors will be fully exposed to the decline of the worst performing index if it finishes below its 70% trigger level.
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 securities with autocallable feature
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Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $1,469,000
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Maturity: | Dec. 27, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 34.5% if the worst performing index finishes above its initial level; par if the worst performing index declines but closes above its downside threshold level; otherwise full exposure to the decline of the worst performing index
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Call: | Automatically starting June 21, 2022 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to its initial price on any semiannual determination date
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Initial level: | 35,492.70 for Dow, 15,986.28 for Nasdaq-100 index, 2,202.947 for Russell 2000 index
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Downside thresholds: | 24,844.89 for Dow, 11,190.396 for Nasdaq-100 index, 1,542.063 for Russell 2000 index, 70% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.75%
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Cusip: | 61773HUW7
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