Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.41 million contingent income autocalls linked to three stocks
By William Gullotti
Buffalo, N.Y., June 8 – Morgan Stanley Finance LLC priced $1.41 million of contingent income autocallable securities due March 7, 2024 linked to Intellia Therapeutics, Inc., Netflix, Inc. and Valero Energy Corp. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 66%, 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 at par plus the coupon if the closing 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 plus the final coupon unless the worst performing stock finishes 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: | Intellia Therapeutics, Inc., Netflix, Inc. and Valero Energy Corp.
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| Amount: | $1,408,000
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| Maturity: | March 7, 2024
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| Coupon: | 66%, 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 plus final coupon unless the worst performing stock finishes 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 at par plus coupon if the closing 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: | $198.98 for Netflix, $45.31 for Intellia, $135.42 for Valero
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| Downside thresholds: | $139.286 for Netflix, $31.717 for Intellia, $94.794 for Valero; 70% of initial levels
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| Pricing date: | June 3
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| Settlement date: | June 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61774DGW1
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