Published on 4/30/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $28.54 million contingent income autocalls on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, April 30 – Morgan Stanley Finance LLC priced $28.54 million of contingent income autocallable securities due April 27, 2023 linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier closes at or above its downside threshold level, 75% of its initial level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10.2%.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly determination date.
If each underlier finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will have full exposure to the performance of the least-performing underlier.
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
|
Underliers: | Nasdaq-100 index, Dow Jones industrial average and SPDR S&P Regional Banking ETF
|
Amount: | $28,542,000
|
Maturity: | April 27, 2023
|
Coupon: | 10.2% per year, payable quarterly if each underlier closes at or above downside threshold level on determination date for that quarter
|
Price: | Par
|
Payout at maturity: | If each underlier finishes at or above its downside threshold level, par plus the final contingent coupon; otherwise, investors will have full exposure to the performance of the least-performing underlier
|
Call: | At par plus contingent coupon if each underlier closes at or above initial level on any quarterly determination date
|
Initial levels: | 13,941.44 for Nasdaq-100, 34,043.49 for Dow and $67.85 for ETF
|
Downside thresholds: | 10,456.08 for Nasdaq-100, 25,532.618 for Dow and $50.888 for ETF, or 75% of initial levels
|
Pricing date: | April 23
|
Settlement date: | April 29
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 1.75%
|
Cusip: | 61771VVB3
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.