Published on 12/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $800,000 5.15% contingent income autocalls on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Dec. 12 – Morgan Stanley Finance LLC priced $800,000 of contingent income autocallable securities due April 17, 2023 linked to the 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 5.15%, 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 Oct. 11, 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 level in which case investors will be fully exposed to the decline of the worst performing 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: | $800,000
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| Maturity: | April 17, 2023
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| Coupon: | 5.15%, 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 index
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| Call: | Automatically starting Oct. 11, 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: | 34,308.08 for Dow, 13,990.21 for Nasdaq, 1,980.324 for Russell
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| Downside thresholds: | 22,300.252 for Dow, 9,093.637 for Nasdaq, 1,287.211 for Russell, 65% of initial level
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| Coupon barriers: | 25,731.060 for Dow, 10,492.658 for Nasdaq, 1,485.243 for Russell, 75% of initial levels
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| Pricing date: | April 11
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| Settlement date: | April 14
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61773QM30
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