Published on 3/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $780,000 contingent income autocalls on Amazon, Apple
By Kiku Steinfeld
Chicago, March 11 – Morgan Stanley Finance LLC priced $780,000 of contingent income autocallable securities due Sept. 20, 2023 linked to Amazon.com, Inc. and Apple Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.2%, paid quarterly, if each underlying stock closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Dec. 13, 2021 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 75% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Amazon.com, Inc. and Apple Inc.
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| Amount: | $780,000
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| Maturity: | Sept. 20, 2023
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| Coupon: | 9.2%, paid quarterly, if each underlying stock closes at or above its 75% downside threshold on the related quarterly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Dec. 13, 2021 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
|
| Initial levels: | $149.55 for Apple Inc., $3,457.17 for Amazon.com, Inc.
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| Downside thresholds: | $112.163 for Apple Inc., $2,592.878 for Amazon.com, Inc., 75% of initial levels
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| Pricing date: | Sept. 14, 2021
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| Settlement date: | Sept. 20, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
|
| Cusip: | 61773FF99
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