Published on 12/21/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.51 million contingent income autocalls on three indexes
New York, Dec. 21 – Morgan Stanley Finance LLC priced $1.51 million of contingent income autocallable securities due Dec. 14, 2023 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.1%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date. Previously unpaid coupons, if any, will be automatically included whenever a contingent payment is made.
The securities will be called automatically starting June 15, 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, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1,508,000
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| Maturity: | Dec. 14, 2023
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| Coupon: | 9.1%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date; coupon payment events will automatically include any previously unpaid coupons
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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 15, 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: | 35,970.99 for Dow Jones Industrial Average, 16,331.98 for Nasdaq-100 index, 2,211.806 for Russell 2000 index
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| Downside threshold: | 25,179.693 for Dow Jones Industrial Average, 11,432.386 for Nasdaq-100 index, 1,548.264 for Russell 2000 index, 70% of initial levels
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| Coupon barrier: | 28,776.792 for Dow Jones Industrial Average, 13,065.584 for Nasdaq-100 index, 1,769.445 for Russell 2000 index, 80% of the initial levels
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61773HTM1
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