Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $530,000 contingent income autocalls on Nasdaq, Russell, Dow
Chicago, May 3 – Morgan Stanley Finance LLC priced $530,000 of contingent income autocallable securities due March 24, 2022 tied to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 8.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call determination date.
If the lowest-performing index finishes at or above its downside threshold level, 70% of its initial level, each day during the life of the notes the payout at maturity will be par plus the final coupon. If the lowest-performing index finishes below its downside threshold level at any point, investors will be fully exposed to the decline of the final index value of the lowest-performing index from its initial level. The maximum payout at maturity will be par.
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: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
Amount: | $530,000
|
Maturity: | March 24, 2022
|
Coupon: | 8.5% per year, payable monthly if each index closes at or above coupon barrier level on observation date that period
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above downside threshold level on every day during the life of the notes, par; if any index finishes below downside threshold level at any point, full exposure to final index level of lowest-performing index from its initial level with a maximum payout of par
|
Call: | At par if each index closes at or above its initial level on any quarterly call determination date
|
Initial levels: | 12,866.99 for Nasdaq, 2,287.545 for Russell, 32,627.97 for Dow
|
Coupon barriers: | 9,006.893 for Nasdaq, 1,601.282 for Russell, 22,839.579 for Dow; 70% of initial levels
|
Downside threshold levels: | 9,006.893 for Nasdaq, 1,601.282 for Russell, 22,839.579 for Dow; 70% of initial levels
|
Pricing date: | March 19
|
Settlement date: | March 24
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 1.875%
|
Cusip: | 61771VMD9
|
© 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.