Published on 10/5/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.31 million contingent income autocallables on three indexes
New York, Oct. 5 – Morgan Stanley Finance LLC priced $1.31 million of contingent income autocallable securities due Jan. 3, 2024 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, 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 90% of its initial level on any quarterly call determination date.
If the notes have not been called, the payout at maturity will be par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
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, S&P 500 index and Nasdaq-100 index
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Amount: | $1,312,000
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Maturity: | Jan. 3, 2024
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Coupon: | 9.5%, 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 any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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Call: | Automatically at par if the closing level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date
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Initial levels: | 11,493.83 for Nasdaq-100, 1,715.243 for Russell 2000, 3,719.04 for S&P 500
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Downside thresholds: | 8,045.681 for Nasdaq-100, 1,200.670 for Russell 2000, 2,603.328 for S&P 500, 70% of initial level
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Call threshold: | 10,344.447 for Nasdaq-100 index, 1,543.719 for Russell 2000 index, 3,347.136 for S&P 500 index, 90% of initial levels
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.875%
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Cusip: | 61774HDQ8
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