Published on 5/25/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $911,000 contingent income autocallables on Apple, Wayfair
New York, May 25 – Morgan Stanley Finance LLC priced $911,000 of contingent income autocallable securities due Oct. 31, 2024 linked to the stock performance of Apple Inc. and Wayfair Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.75%, paid quarterly, if each underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the price of each underlying stock is greater than or equal to 85% of its initial price, starting May 2, 2022 on any quarterly call determination date.
At maturity, the payout will be par unless the worst performing stock finishes below its 70% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Apple Inc. and Wayfair Inc.
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| Amount: | $911,000
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| Maturity: | Oct. 31, 2024
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| Coupon: | 15.75%, paid quarterly, if each underlying stock closes at or above its 70% 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 stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call: | Automatically at par if the price of each underlying stock is greater than or equal to 85% of its initial price, starting May 2, 2022 on any quarterly call determination date
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| Initial levels: | $148.85 for Apple, $230.13 for Wayfair
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| Downside thresholds: | $104.195 for Apple, $161.091 for Wayfair, 70% of initial levels
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| Call threshold: | $126.523 for Apple, $195.611 for Wayfair, 85% of the initial levels
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| Pricing date: | Oct. 27, 2021
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| Settlement date: | Nov. 1, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773F6F5
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