Published on 7/18/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 contingent income buffered autocalls on three indexes
By William Gullotti
Buffalo, N.Y., July 18 – Morgan Stanley Finance LLC priced $250,000 of contingent income buffered autocallable securities due July 2, 2025 linked to the performance of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The securities are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each index closes at or above its 75% coupon barrier on the corresponding observation date.
The notes will be called at par plus coupon if each index closes at or above its initial level on any monthly review date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 85% buffer level. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Issue: | Contingent income buffered autocallable securities
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| Guarantor: | Morgan Stanley
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $250,000
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| Maturity: | July 2, 2025
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| Coupon: | 7.5% annualized, payable monthly if each index closes at or above coupon barrier on review date on the relevant review date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above buffer level, par plus final coupon; otherwise, 1% loss for each 1% decline of worst performing index below 15%
|
| Call: | At par plus coupon if each index closes at or above its initial level on any monthly call date after six months
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| Initial levels: | 31,438.26 for Dow, 1,771.742 for Russell, 12,008.24 for Nasdaq
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| Coupon barrier levels: | 23,578.695 for Dow, 1,328.807 for Russell, 9,006.18 for Nasdaq; 75% of initial levels
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| Buffer levels: | 26,722.521 for Dow, 1,505.981 for Russell, 10,207.004 for Nasdaq; 85% of initial levels
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61774DPE1
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