Published on 9/19/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.81 million 6% contingent income autocallables on indexes
New York, Sept. 20 – Morgan Stanley Finance LLC priced $2.81 million of 6% contingent income autocallable securities due June 20, 2023 linked to Russell 2000 index, Nasdaq-100 index and Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6%, paid quarterly, if each underlying index closes at or above its 75% coupon threshold on the related quarterly observation date.
The securities will be called automatically at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index finishes 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones Industrial Average
|
| Amount: | $2,806,000
|
| Maturity: | June 20, 2023
|
| Coupon: | 6%, paid quarterly, if each underlying index closes at or above its coupon threshold on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing index finishes below its downside threshold in which case investors will be fully exposed to the decline of that index
|
| Call: | Automatically starting Dec. 17 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date
|
| Initial levels: | 2,209.985 for Russell, 15,382.90 for Nasdaq, 34,577.57 for Dow
|
| Coupon thresholds: | 1,657.489 for Russell, 11,537.175 for Nasdaq, 25,933.178 for Dow; 75% of initial levels
|
| Downside threshold: | 1,546.990 for Russell, 10,768.03 for Nasdaq, 24,204.299 for Dow; 70% of initial levels
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 17
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.875%
|
| Cusip: | 61773FD83
|
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