Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $645,000 autocallable jump securities linked to S&P, ARK ETF
New York, May 17 – Morgan Stanley Finance LLC priced $645,000 of jump securities with autocallable feature due Oct. 20, 2026 linked to the S&P 500 index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at a price to give a return of 7.75% per year if each underlier closes at or above its initial level starting Oct. 18, 2022 and on any subsequent quarterly call determination date.
At maturity, the payout will be par plus 38.75% if the worst performing underlier finishes at or above its initial level.
If the worst performer declines up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%.
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: | Jump securities with autocallable feature
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| Underlying assets: | S&P 500 index and ARK Innovation ETF
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| Amount: | $645,000
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| Maturity: | Oct. 20, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 38.75% if the worst performing underlier finishes at or above its initial level; if the worst performer declines up to 15%, par; otherwise, 1% loss for every 1% decline of worst performer below 15%
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| Call: | Automatically at a price to give a return of 7.75% per year if each underlier closes at or above its initial level starting Oct. 18, 2022 and on any subsequent quarterly call determination date
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| Initial levels: | $115.80 for ARK Innovation ETF, 4,471.37 for S&P 500
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| Buffer levels: | $98.43 for ARK Innovation ETF, 3,800.665 for S&P 500; 85% of 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: | 3.75%
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| Cusip: | 61773F4X8
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