Published on 4/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2 million 7% contingent income autocallables on indexes
New York, April 28 – Morgan Stanley Finance LLC priced $2 million of contingent income autocallable securities due April 29, 2027 linked to Russell 2000 index, S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Oct. 25, 2022 at par if the level of each underlying index is greater than or equal to 105% of its initial level on any monthly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold in which case investors will be fully exposed to the decline of that index.
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: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $2 million
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| Maturity: | April 29, 2027
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| Coupon: | 7%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Automatically starting Oct. 25, 2022 at par if the level of each underlying index is greater than or equal to 105% of its initial level on any monthly call determination date
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| Initial levels: | 34,049.46 for Dow Jones industrial average, 1,954.203 for Russell 2000 index, 4,296.12 for S&P 500 index
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| Downside threshold: | 23,834.622 for Dow Jones industrial average, 1,367.942 for Russell 2000 index, 3,007.284 for S&P 500 index, 70% of initial levels
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| Coupon barrier: | 25,537.095 for Dow Jones industrial average, 1,465.652 for Russell 2000 index, 3,222.09 for S&P 500 index, 75% of the initial levels
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| Call threshold: | 35,751.933 for Dow Jones industrial average, 2,051.913 for Russell 2000 index, 4,510.926 for S&P 500 index, 105% of the initial levels
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.48%
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| Cusip: | 61773QR50
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