Published on 1/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.96 million contingent market-linked autocalls on three indexes
By William Gullotti
Buffalo, N.Y., Jan. 12 – Morgan Stanley Finance LLC priced $5.96 million of market-linked securities – autocallable with contingent downside due Dec. 2, 2024 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an 11.3% annualized call premium if each index closes at or above the initial level on any annual observation date.
The payout at maturity will be par if each index finishes at or above its 75% downside threshold. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $5,957,000
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| Maturity: | Dec. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% decline of worst performer from its initial level
|
| Call: | At par plus an 11.3% annualized call premium if each index closes at or above its initial level on any annual observation date
|
| Initial levels: | 35,135.94 for Dow, 2,241.976 for Russell, 16,399.24 for Nasdaq
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| Downside thresholds: | 26,351.955 for Dow, 1,681.482 for Russell, 12,299.43 for Nasdaq; 75% of initial levels
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 2
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
|
| Fees: | 2.425%
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| Cusip: | 61773HBX6
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