Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $567,000 19.5% contingent income autocalls on three stocks
By Kiku Steinfeld
Chicago, Nov. 4 – Morgan Stanley Finance LLC priced $567,000 of contingent income autocallable securities due March 12, 2025 linked to the common stocks of Boeing Co., salesforce.com, inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.5%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Sept. 7, 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 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: | Boeing Co., salesforce.com, inc. and PayPal Holdings, Inc.
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| Amount: | $567,000
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| Maturity: | March 12, 2025
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| Coupon: | 19.5%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier 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 Sept. 7, 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: | $169.17 for Boeing, $196.23 for salesforce, $93.61 for PayPal
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| Downside thresholds: | $101.502 for Boeing, $117.738 for salesforce, $56.166 for PayPal, 60% of initial levels
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| Coupon barriers: | $118.419 for Boeing, $137.361 for salesforce, $65.527 for PayPal, 70% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773QMN6
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