Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.57 million contingent income autocallables on three indexes
New York, May 31 – Morgan Stanley Finance LLC priced $2.57 million of contingent income autocallable securities due May 30, 2025 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level, starting May 24, 2023 and on any quarterly call determination date.
At maturity, the payout will be par unless the worst performing index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of that index.
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 indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $2,565,000
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Maturity: | May 30, 2025
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Coupon: | 8.5%, paid quarterly, if each underlying index closes at or above its 70% 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 index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying index
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Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level, starting May 24, 2023 on any quarterly call determination date
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Initial levels: | 31,928.62 for Dow Jones industrial average, 11,769.84 for Nasdaq-100, 1,764.826 for Russell 2000
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Downside threshold: | 22,350.034 for Dow Jones industrial average, 8,238.888 for Nasdaq-100, 1,235.378 for Russell 2000, 70% of initial levels
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Pricing date: | May 24
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Settlement date: | May 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61774DFQ5
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