Published on 12/28/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $601,000 6.25% contingent income autocallables linked to indexes
New York, Dec. 29 – Morgan Stanley Finance LLC priced $601,000 of contingent income autocallable securities due June 23, 2023 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.25%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting June 24, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes 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: | $601,000
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Maturity: | June 23, 2023
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Coupon: | 6.25% annual rate, paid monthly, if each underlying index closes at or above its 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 index closes 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 starting June 24, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date
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Initial level: | 34,932.16 for Dow, 15,627.64 for Nasdaq-100 index, 2,139.875 for Russell 2000 index
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Downside threshold: | 24,452.512 for Dow, 10,939.348 for Nasdaq-100 index, 1,497.913 for Russell 2000 index, 70% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.1%
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Cusip: | 61773HUF4
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