Published on 5/26/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $740,000 contingent income autocallables on indexes, stock
Chicago, May 26 – Morgan Stanley Finance LLC priced $740,000 of contingent income autocallable securities due Aug. 8, 2023 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Berkshire Hathaway Inc. class B common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid monthly, if each underlier closes at or above its 75% downside threshold on the related monthly observation date.
The securities will be called automatically starting Feb. 8, 2022 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless each asset closes below its 75% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, Dow Jones industrial average and Berkshire Hathaway Inc.
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| Amount: | $740,000
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| Maturity: | Aug. 8, 2023
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| Coupon: | 7.25% annual rate, paid monthly, if each underlier closes at or above its 75% 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 asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call: | Automatically starting Feb. 8, 2022 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $288.72 for Berkshire Hathaway, 36,157.58 for Dow, 2,404.284 for Russell
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| Downside thresholds: | $216.54 for Berkshire Hathaway, 27,118.185 for Dow, 1,803.213 for Russell; 75% 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: | 0.75%
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| Cusip: | 61773HDT3
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