Published on 4/5/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.2 million 10.5% contingent income autocallables on three indexes
Kiku Steinfeld
Chicago, April 5 – Morgan Stanley Finance LLC priced $1.2 million of contingent income autocallable securities due Sept. 28, 2022 linked to the Euro Stoxx 50 index, the MSCI Emerging Markets index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 23, 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 80% 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: | Euro Stoxx 50 index, MSCI Emerging Markets index and S&P 500 index
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| Amount: | $1.2 million
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| Maturity: | Sept. 28, 2022
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| Coupon: | 10.5%, paid quarterly, if each underlying index closes at or above its 80% downside threshold 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 March 23, 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: | 1,272.52 for MSCI, 4,448.98 for S&P, 4,194.92 for Euro Stoxx
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| Downside thresholds: | 1,018.016 for MSCI, 3,559.184 for S&P, 3,355.936 for Euro Stoxx, 80% of initial levels
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| Pricing date: | Sept. 23, 2021
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| Settlement date: | Sept. 28, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 61773FM59
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