Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.28 million 8% contingent income autocallables tech stocks
By Kiku Steinfeld
Chicago, July 8 – Morgan Stanley Finance LLC priced $1.28 million of contingent income autocallable securities due Dec. 29, 2023 linked to the common stocks of Microsoft Corp., Apple Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 21, 2022 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 level, 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: | Microsoft Corp., Apple Inc. and Amazon.com, Inc.
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| Amount: | $1.28 million
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| Maturity: | Dec. 29, 2023
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| Coupon: | 8%, paid quarterly, if each underlying stock closes at or above its 60% 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 closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically starting March 21, 2022 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: | $172.99 for Apple, $3,408.34 for Amazon.com, $327.29 for Microsoft
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| Downside thresholds: | $103.794 for Apple, $2,045.004 for Amazon.com, $196.374 for Microsoft, 60% of initial levels
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.14%
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| Cusip: | 61773HWB1
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