Published on 9/30/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $572,000 8% contingent income autocallables on indexes
By Kiku Steinfeld
Chicago, Sept. 30 – Morgan Stanley Finance LLC priced $572,000 of contingent income autocallable securities due Feb. 6, 2024 linked to 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 8%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Aug. 1, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing 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: | $572,000
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Maturity: | Feb. 6, 2024
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Coupon: | 8%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier 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 closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting Aug. 1, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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Initial levels: | 35,405.24 for Dow, 15,019.68 for Nasdaq, 2,050.740 for Russell
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Downside thresholds: | 24,783.668 for Dow, 10,513.776 for Nasdaq, 1,435.518 for Russell, 70% of initial level
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Coupon barriers: | 28,324.192 for Dow, 12,015.744 for Nasdaq, 1,640.592 for Russell, 80% of initial levels
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Pricing date: | Feb. 1
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Settlement date: | Feb. 4
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61773HU31
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