Published on 10/26/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.42 million 9.25% contingent income autocalls on Russell, S&P, Nasdaq
New York, Oct. 26 – Morgan Stanley Finance LLC priced $1.42 million of contingent income autocallable securities due Dec. 21, 2023 linked to the Russell 2000 index, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 9.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Dec. 16 at par if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date.
At maturity the payout will be par if the indexes never close below the 70% downside threshold level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing 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 Nasdaq-100 index
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Amount: | $1,417,000
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Maturity: | Dec. 21, 2023
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Coupon: | 9.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par if the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting Dec. 16 at par if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date
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Initial levels: | 11,861.38 for Nasdaq-100, 1,798.189 for Russell 2000, 3,873.33 for S&P 500
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Downside thresholds: | 8,302.966 for Nasdaq-100, 1,258.732 for Russell 2000, 2,711.331 for S&P 500, 70% of initial level
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Call threshold: | 10,675.24 for Nasdaq-100 index, 1,618.370 for Russell 2000 index, 3,485.997 for S&P 500 index, 90% of initial levels
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.875%
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Cusip: | 61774FGA4
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