Published on 5/26/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $276,000 autocallable jump securities on four stocks
Chicago, May 26 – Morgan Stanley Finance LLC priced $276,000 of jump securities with autocallable feature due Nov. 6, 2026 linked to the worst performing of the stocks of Blackstone Group Inc., Capital One Financial Corp., Regions Financial Corp. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Nov. 9, 2022 at a price to give a return of 17.25% per year if the price of each underlying stock is greater than or equal to its call threshold level. The call threshold level starts at 97.5% and decreases each year 2.5%.
At maturity the payout will be par plus 86.25% if the worst performing underlier finishes above 87.5% of its initial level.
The payout will be par if worst performing stock finishes below 87.5% of its initial level but above its 65% trigger level. Investors will be fully exposed to the decline of worst performing stock if it finishes below its 65% trigger level.
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: | Jump securities with autocallable feature
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| Underlying stocks: | Blackstone Group Inc., Capital One Financial Corp., Regions Financial Corp. and Wells Fargo & Co.
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| Amount: | $276,000
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| Maturity: | Nov. 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 86.25% if worst performing stock finishes above its downside threshold level; par if worst performing stock finishes below 87.5% of its initial level but above 65% trigger level; otherwise, full exposure to decline of worst performing stock
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| Call: | Automatically starting Nov. 9, 2022 at a price to give a return of 17.25% per year if the price of each underlying stock is greater than or equal to call threshold level on any annual call determination date; call threshold level starts at 97.5% and decreases each year 2.5%
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| Initial levels: | $144.50 for Blackstone, $153.90 for Capital One, $24.71 for Regions, $52 for Wells Fargo
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| Downside thresholds: | $93.925 for Blackstone, $100.035 for Capital One, $16.062 for Regions, $33.80 for Wells Fargo, 65% of initial levels
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| Pricing date: | Nov. 3, 2021
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| Settlement date: | Nov. 8, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61773HAY5
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