Published on 1/1/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.53 million contingent income autocalls on Amazon, Apple
By Kiku Steinfeld
Chicago, Jan. 2 – Morgan Stanley Finance LLC priced $4.53 million of contingent income autocallable securities due Dec. 5, 2024 linked to Amazon.com, Inc. and Apple Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon of 11.64% yearly if each stock closes at or above its downside threshold on any related quarterly observation date.
The notes will be called automatically starting Feb. 28, 2022 at par if each stock closes at or above its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 80% 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. and Apple Inc.
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| Amount: | $4,532,000
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| Maturity: | Dec. 5, 2024
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| Coupon: | 11.64%, paid quarterly, if each stock closes at or above its 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 stock closes below its downside threshold level, in which case investors will be fully exposed to the decline of that stock
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| Call: | Automatically starting Feb. 28, 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: | $165.30 for Apple, $3,507.07 for Amazon
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| Downside thresholds: | $132.24 for Apple, $2,805.656 for Amazon, 80% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773HHK8
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