Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.79 million autocallable jump securities on Nasdaq, Russell
New York, Jan. 2 – Morgan Stanley Finance LLC priced $5.79 million of jump securities with autocallable feature due June 25, 2025 linked to the Nasdaq-100 index 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 14% per year if each index closes at or above its initial level on any semiannual determination date.
At maturity the payout will be par plus 21% if the worst performing index finishes above its initial level.
Investors will receive par if the laggard index declines by no more than 20% and will lose 1.25% for each 1% decline of the laggard index beyond 20%.
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 and Russell 2000 index
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| Amount: | $5,789,000
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| Maturity: | June 25, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 21% if the worst performing index finishes above its initial level; par if laggard index declines but finishes at or above buffer level; otherwise, lose 1.25% for each 1% decline of laggard index beyond buffer level
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| Call: | Automatically at a price to give a return of 14% per year if each index closes at or above its initial level on any semiannual determination date
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| Initial levels: | 16,554.16 for Nasdaq-100, 1,982.836 for Russell 2000
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| Buffer levels: | 16,554.16 for Nasdaq-100, 1,982.836 for Russell 2000, 80% of initial levels
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| Strike date: | Dec. 20
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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: | 0.15%
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| Cusip: | 61771WEY0
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