Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.45 million 8.85% contingent income autocallables on indexes
Chicago, June 13 – Morgan Stanley Finance LLC priced $1.45 million of contingent income autocallable securities due May 30, 2023 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.85%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting May 27, 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 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: | $1,449,000
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| Maturity: | May 30, 2023
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| Coupon: | 8.85% annual rate, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date; previously unpaid coupons will also be paid
|
| 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 May 27, 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: | 35,804.38 for Dow, 16,367.81 for Nasdaq, 2,331.459 for Russell
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| Downside threshold: | 25,063.066 for Dow, 11,457.467 for Nasdaq, 1,632.021 for Russell, 70% of initial levels
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| Coupon barrier: | 28,643.504 for Dow, 13,094.248 for Nasdaq, 1,865.167 for Russell, 80% of initial levels
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| Pricing date: | Nov. 24, 2021
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| Settlement date: | Nov. 30, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 61773HKM0
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