Published on 12/10/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.86 million 8.25% contingent income autocalls on indexes
New York, Dec. 10 – Morgan Stanley Finance LLC priced $2.86 million of contingent income autocallable securities due June 12, 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 8.25%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting June 10, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes 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
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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, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $2,856,000
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Maturity: | June 12, 2023
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Coupon: | 8.25%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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Call: | Automatically starting June 10, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date
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Initial level: | 35,719.43 for Dow Jones Industrial Average, 16,325.66 for Nasdaq-100 index, 2,253.788 for Russell 2000 index
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Downside threshold: | 25,003.601 for Dow Jones Industrial Average, 11,427.962 for Nasdaq-100 index, 1,577.652 for Russell 2000 index, 70% of initial levels
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Coupon barrier: | 26,789.573 for Dow Jones Industrial Average, 12,244.245 for Nasdaq-100 index, 1,690.341 for Russell 2000 index, 75% of the initial levels
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Pricing date: | Dec. 7
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Settlement date: | Dec. 10
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.875%
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Cusip: | 61773HRN1
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