Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $531,000 21.5% contingent income autocallables on three stocks
Chicago, May 27 – Morgan Stanley Finance LLC priced $531,000 of contingent income autocallable securities due Nov. 8, 2024 linked to the worst performing of Lyft, Inc., Moderna, Inc. and Snap Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.5%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Nov. 10, 2022 at par if the price of each underlying stock is greater than or equal to 90% of its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% 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: | Lyft, Inc., Moderna, Inc. and Snap Inc.
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Amount: | $531,000
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Maturity: | Nov. 8, 2024
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Coupon: | 21.5% annual rate, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly 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 Nov. 10, 2022 at par if the price of each underlying stock is greater than or equal to 90% of its initial price on any monthly call determination date
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Initial levels: | $53.55 for Lyft, $236.99 for Moderna, $53.17 for Snap
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Downside thresholds: | $26.775 for Lyft, $118.495 for Moderna, $26.585 for Snap, 50% of initial levels
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Coupon barrier levels: | $32.130 for Lyft, $142.194 for Moderna, $31.902 for Snap, 60% of the initial levels
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Pricing date: | Nov. 5, 2021
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Settlement date: | Nov. 10, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61773HCQ0
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