Published on 10/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.5 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., Oct. 1– Morgan Stanley Finance LLC priced $2.5 million of 0% jump securities with autocallable feature due Sept. 26, 2024 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized call premium of 10% if each index closes at or above its initial level on any annual observation date.
At maturity, if all indexes finish above their initial levels, the payout will be par plus 30%.
If the worst performing index finishes below its initial level but at or above its 75% downside threshold level, the payout will be par. If the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index.
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: | Russell 2000 index, S&P 500 index
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| Amount: | $2,500,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish above initial levels, par plus 30%; if the worst performing index finishes below its initial level but at or above its downside threshold level, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
| Call: | At par plus an annualized call premium of 10% if each index closes at or above initial level on any annual observation date
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| Initial levels: | 2,186.183 for Russell, 4,354.19 for S&P
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| Downside threshold levels: | 1,639.637 for Russell, 3,265.643 for S&P; 75% of initial levels
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| Strike date: | Sept. 21
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.1%
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| Cusip: | 61773FM34
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