Published on 8/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.01 million autocallable jump securities on Nasdaq, S&P, Dow
New York, Aug. 11 – Morgan Stanley Finance LLC priced $1.01 million of jump securities with autocallable feature due Feb. 4, 2028 linked to the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an 8.25% annualized call premium if the closing level of each underlying index is greater than or equal to its initial level on any semiannual determination date starting Aug. 2, 2024.
At maturity, the payout will be par plus 37.125% if the worst performing underlier finishes at or above its initial level.
The payout will be par if the worst performing index declines but finishes at or above its 65% trigger level. Otherwise, investors will be fully exposed to the decline of the worst performing index from its 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, S&P 500 index and Dow Jones industrial average
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| Amount: | $1,007,000
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| Maturity: | Feb. 4, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 37.125% if worst performing index finishes at or above its initial level; par if worst performing index declines but finishes at or above its 65% trigger level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically at par plus an 8.25% annualized call premium if the closing level of each underlying index is greater than or equal to its initial level on any semiannual determination date starting Aug. 2, 2024
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| Initial levels: | 35,630.68 for Dow Jones industrial average, 15,718.01 for Nasdaq-100, 4,576.73 for S&P 500
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| Downside thresholds: | 23,159.942 for Dow Jones industrial average, 10,216.707 for Nasdaq-100, 2,974.875 for S&P 500, 65% of initial level
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| Pricing date: | Aug. 1
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| Settlement date: | Aug. 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61775HRV1
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