Published on 1/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $875,000 12.75% contingent income autocalls on salesforce, Goldman Sachs, lululemon
New York, Jan. 11 – Morgan Stanley Finance LLC priced $875,000 of contingent income autocallable securities due March 1, 2023 linked to salesforce.com, inc., Goldman Sachs Group, Inc. and lululemon athletica inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.75%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting March 1, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | salesforce.com, inc., Goldman Sachs Group, Inc. and lululemon athletica inc.
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| Amount: | $875,000
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| Maturity: | March 1, 2023
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| Coupon: | 12.75%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call: | Automatically starting March 1, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $259.66 for salesforce, $408.56 for Goldman Sachs, $405.80 for lululemon
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| Downside thresholds: | $181.762 for salesforce, $285.992 for Goldman Sachs, $284.06 for lululemon, 70% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.15%
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| Cusip: | 61773FRN5
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