Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.36 million fixed-income autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 22 – Morgan Stanley Finance LLC priced $1.36 million of 7.85% fixed-income autocallable securities due March 21, 2025 linked to the Nasdaq-100 index, the Euro Stoxx Banks index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each underlying index closes at or above its initial level on any monthly determination date after six months.
The payout at maturity will be par unless either index finishes below its 60% downside threshold level, in which case the payout will be par plus the return of the lesser performing index with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-income autocallable securities
|
| Underlying indexes: | Nasdaq-100 index, Euro Stoxx Banks index, SPDR S&P Regional Banking ETF
|
| Amount: | $1.36 million
|
| Maturity: | March 21, 2025
|
| Coupon: | 7.85%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its downside threshold level, in which case the payout will be par plus the return of the lesser performing index with full exposure to any losses
|
| Call: | Automatically at par plus coupon if each underlying closes at or above its initial level on any monthly determination date after six months
|
| Initial levels: | $71.89 for ETF, 92.04 for Banks, 14,420.08 for Nasdaq
|
| Downside thresholds: | $43.134 for ETF, for 55.224 Banks, 8,652.048 for Nasdaq; 60% of initial levels
|
| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 61773QPW3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
