摩根士丹利（MS.US）发行总规模474.40万美元的自动赎回跳跃证券，挂钩标普动量指数

金吾财讯|摩根士丹利金融有限责任公司于2026年6月16日发行一款挂钩标普美国股票动量40%波动率目标4%递减指数的自动赎回跳跃证券，到期日为2032年6月16日，由摩根士丹利（MS.US）全额无条件担保。该证券不保本，不支付定期利息。本次发行总规模474.40万美元，每份面值1,000.00美元，共计4,744份。产品设有自动赎回条款：自2027年6月15日起，若挂钩指数在任一确定日收盘水平不低于初始水平1,362.66，产品将自动赎回并支付早期赎回款项（首年每份1,281.50美元，对应年化约28.15%回报，逐年递增）。若持有到期且未赎回，当最终指数水平不低于初始水平时，投资者每份获得2,689.00美元；若低于初始水平但不低于下行阈值681.33（50%初始水平），则返还本金；若跌破下行阈值，将承担指数跌幅等比例损失，甚至损失全部本金。该证券仅向收费顾问账户投资者销售，每份佣金2.50美元，公司预计获得净收益约473.21万美元。产品不在交易所上市，发行日估值仅每份959.30美元，低于发行价。 Morgan Stanley Finance LLC issued Jump Securities with Auto-Callable Feature due June 16, 2032, linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index, on June 16, 2026. The securities are fully and unconditionally guaranteed by Morgan Stanley (MS.US) and are principal-at-risk, without regular interest payments. The total offering size is USD 4,744,000 (4,744 securities at USD 1,000 each). The securities feature automatic early redemption: starting June 15, 2027, if the index closes at or above the initial level of 1,362.66 on any determination date, the securities will be automatically redeemed, paying early redemption amounts (e.g., USD 1,281.50 for the first year, reflecting an annualized return of approx. 28.15%, increasing annually). If held to maturity without early redemption, investors receive USD 2,689.00 per security if the final index level is at or above the initial level; if the final level is below the initial level but at or above the downside threshold of 681.33 (50% of initial), the principal is repaid; if below the downside threshold, investors incur losses proportionate to the index decline, potentially losing all principal. The securities are sold only to fee-based advisory accounts, with commissions of USD 2.50 per security, and the company expects net proceeds of USD 4,732,140. The securities are not listed on any exchange, and their estimated value at pricing was only USD 959.30 per security, below the issue price.