Published on 12/4/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million 29.5% contingent income autocalls on four stocks
New York, Dec. 4 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due April 4, 2024 linked to Amazon.com, Inc., Tesla, Inc., Netflix, Inc. and Zoom Video Communications, Inc. class A common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon at an annual rate of 29.5%, paid monthly, if each underlying stock closes at or above its 50% downside threshold on the related monthly observation date.
The securities will be called automatically starting July 1 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% 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: | Amazon.com, Inc., Tesla, Inc., Netflix, Inc. and Zoom Video Communications, Inc.
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| Amount: | $1 million
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| Maturity: | April 4, 2024
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| Coupon: | 29.5% annual rate, paid monthly, if each underlying stock closes at or above its 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 July 1 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $3,052.03 for Amazon.com, Inc., $508.05 for Netflix, Inc., $618.71 for Tesla, Inc., $319.95 for Zoom Video Communications, Inc.
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| Downside thresholds: | $1,526.015 for Amazon.com, Inc., $254.025 for Netflix, Inc., $309.355 for Tesla, Inc., $159.975 for Zoom Video Communications, Inc. class A, 50% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771VLE8
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