Published on 10/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.67 million 6.25% fixed income buffered autocalls tied to indexes
By William Gullotti
Buffalo, N.Y., Oct. 10 – Morgan Stanley Finance LLC priced $2.67 million of 6.25% fixed income buffered autocallable securities due Oct. 9, 2025 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after six months.
If the final level of each index is greater than or equal to 70% of its initial level, the payout at maturity will be par plus the last fixed coupon. Otherwise, investors will lose 1% for every 1% that the worst-performing index declines beyond 30%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed income buffered autocallable securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $2,668,000
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| Maturity: | Oct. 9, 2025
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| Coupon: | 6.25%, payable quarterly
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to 70% of initial level, par plus last fixed coupon; otherwise, 1% loss for every 1% that worst-performing index declines beyond 30%
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| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly valuation date after six months
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| Initial index levels: | 1,762.694 for Russell, 11,573.18 for Nasdaq, 30,273.87 for Dow
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| Coupon barrier levels: | 1,233.886 for Russell, 8,101.226 for Nasdaq, 30,273.87 for Dow; 70% of initial levels
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774HPG7
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