Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.5 million contingent income autocallables on Russell, S&P
New York, May 27 – Morgan Stanley Finance LLC priced $6.5 million of contingent income autocallable securities due Nov. 24, 2023 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying index closes at or above its 67.9% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting Nov. 21, 2022.
At maturity, the payout will be par unless the worst performing index finishes below its 67.9% downside threshold, in which case investors will be fully exposed to the decline of that index.
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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $6.5 million
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| Maturity: | Nov. 24, 2023
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| Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 67.9% 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 index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Automatically at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting Nov. 21, 2022
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| Initial levels: | 1,773.266 for Russell 2000, 3,901.36 for S&P 500
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| Downside threshold: | 1,204.048 for Russell 2000, 2,649.023 for S&P 500, 67.9% of initial levels
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| Pricing date: | May 20
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| Settlement date: | May 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61774DEW3
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