Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $480,000 contingent income autocallables on three indexes
New York, May 17 – Morgan Stanley Finance LLC priced $480,000 of contingent income autocallable securities due July 20, 2023 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 21, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly 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, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $480,000
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Maturity: | July 20, 2023
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Coupon: | 6%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly 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 Jan. 21, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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Initial levels: | 35,294.76 for Dow Jones industrial average, 15,146.92 for Nasdaq-100, 2,265.654 for Russell 2000
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Downside threshold: | 24,706.332 for Dow Jones industrial average, 10,602.844 for Nasdaq-100, 1,585.958 for Russell 2000, 70% of initial levels
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Coupon barrier: | 26,471.07 for Dow Jones industrial average, 11,360.19 for Nasdaq-100 index, 1,699.241 for Russell 2000 index, 75% of the initial levels
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Pricing date: | Oct. 15, 2021
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Settlement date: | Oct. 20, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.875%
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Cusip: | 61773F5E9
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