Published on 4/29/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $16.67 million contingent income autocallables on three indexes
New York, April 29 – Morgan Stanley Finance LLC priced $16.67 million of contingent income autocallable securities due Feb. 2, 2027 linked to the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Aug. 2, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 65% 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, S&P 500 index and Dow Jones industrial average
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Amount: | $16,674,000
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Maturity: | Feb. 2, 2027
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Coupon: | 7.25%, paid quarterly, if each underlying index closes at or above its 80% 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 Aug. 2, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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Initial levels: | 34,725.47 for Dow Jones industrial average, 1,968.508 for Russell 2000 index, 4,431.85 for S&P 500 index
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Downside threshold: | 22,571.556 for Dow Jones industrial average, 1,279.530 for Russell 2000 index, 2,880.703 for S&P 500 index, 65% of initial levels
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Coupon barrier: | 27,780.376 for Dow Jones industrial average, 1,574.806 for Russell 2000 index, 3,545.48 for S&P 500 index, 80% of the initial levels
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Pricing date: | Jan. 28
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Settlement date: | Feb. 2
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61773HU23
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