Published on 11/3/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.71 million autocallable jump securities on three indexes
New York, Nov. 3 – Morgan Stanley Finance LLC priced $1.71 million of jump securities with autocallable feature due Aug. 1, 2024 linked to the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 18.25% per year if the closing level of each underlying index is greater than or equal to 97.5% of its initial level on any monthly determination date starting Jan. 30, 2023.
At maturity, the payout will be par plus 31.9375% if the worst performing underlier finishes at or above 97.5% of its initial level.
The payout will be par if worst performing index finishes below 97.5% of its initial level but at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of worst performing index from initial 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: | $1,713,000
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Maturity: | Aug. 1, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 31.9375% if worst performing index finishes at or above its call threshold level; par if worst performing index finishes below 97.5% of its initial level but at or above 70% trigger level; otherwise, full exposure to decline of worst performing index
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Call: | Automatically at a price to give a return of 18.25% per year if the closing level of each underlying index is greater than or equal to 97.5% of its initial level on any monthly determination date starting Jan. 30, 2023
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Initial levels: | 32,861.80 for Dow Jones industrial average, 11,546.21 for Nasdaq-100, 1,846.921 for Russell 2000
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Downside thresholds: | 23,003.26 for Dow Jones industrial average, 8,082.347 for Nasdaq-100, 1,292.845 for Russell 2000, 70% of initial level
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Call threshold: | 32,040.255 for Dow Jones industrial average, 11,257.555 for Nasdaq-100, 1,800.748 for Russell 2000, 97.50% of initial levels
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.875%
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Cusip: | 61774HWQ7
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