Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $301,000 fixed-income autocalls on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 21 – Morgan Stanley Finance LLC priced $301,000 of 8% fixed-income autocallable securities due March 23, 2023 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each underlying index closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless either index finishes below its 70% downside threshold level, in which case the payout will be par plus the return of the lesser performing index with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed-income autocallable securities
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| Underlying indexes: | Dow Jones industrial average S&P 500, Russell 2000
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| Amount: | $301,000
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| Maturity: | March 23, 2023
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| Coupon: | 8%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its downside threshold level, in which case the payout will be par plus the return of the lesser performing index with full exposure to any losses
|
| Call: | Automatically at par plus coupon if each underlying closes at or above its initial level on any quarterly determination date after six months
|
| Initial levels: | 34,754.93 for Dow, 2086.143 for Russell, 4463.12 for S&P
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| Downside thresholds: | 24,328.451 for Dow, 1460.300 for Russell, 3124.184 for S&P; 70% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61773QPV5
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