Published on 6/16/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.49 million 9.26% contingent income autocalls on Alphabet, BlackRock, Microsoft, Merck
New York, June 16 – Morgan Stanley Finance LLC priced $1.49 million of contingent income autocallable securities due June 13, 2025 linked to the stocks of Alphabet Inc., BlackRock, Inc., Microsoft Corp. and Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 9.26%, paid monthly, if each underlying stock closes at or above its 50% downside threshold on the related monthly observation date.
The securities will be called automatically starting Dec. 15, 2022 at par if the price of each underlying stock is greater than or equal to 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 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: | Alphabet Inc. class A, BlackRock, Inc., Microsoft Corp. and Merck & Co., Inc.
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| Amount: | $1.49 million
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| Maturity: | June 13, 2025
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| Coupon: | 9.26%, paid monthly, if each underlying stock closes at or above its 50% downside threshold 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 stock
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| Call: | Automatically starting Dec. 15, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $617.67 for BlackRock, $2,223.23 for Alphabet, $87.18 for Merck, $252.99 for Microsoft
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| Downside thresholds: | $308.835 for BlackRock, $1,111.615 for Alphabet, $43.59 for Merck, $126.495 for Microsoft, 50% of initial level
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| Pricing date: | June 10
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| Settlement date: | June 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61774DKR7
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