Published on 11/5/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.68 million contingent income autocalls linked to four stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – Morgan Stanley Finance LLC priced $1.68 million of contingent income autocallable securities due July 31, 2026 linked to the worst performing of the common stocks of Amazon.com, Inc., Boeing Co., Netflix, Inc. and Facebook, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting after one year at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 60% 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: | Amazon.com, Inc., Boeing Co., Netflix, Inc. and Facebook, Inc.
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| Amount: | $1,676,000
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| Maturity: | July 31, 2026
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| Coupon: | 10% annual rate, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier 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 closes 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 starting after one year at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $231.57 for Boeing, $3,630.32 for Amazon, $373.28 for Facebook., $519.30 for Netflix.
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| Downside thresholds: | $138.942 for Boeing, $2,178.192 for Amazon, $223.968 for Facebook, $311.58 for Netflix, 60% of initial levels
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| Coupon barrier: | $138.942 for Boeing, $2,178.192 for Amazon, $223.968 for Facebook, $311.58 for Netflix, 60% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4%
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| Cusip: | 61773FJV6
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