Published on 4/24/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.31 million 5.25% contingent income autocallables on Russell, Nasdaq
By Kiku Steinfeld
Chicago, April 25 – Morgan Stanley Finance LLC priced $1.31 million of contingent income autocallable securities due Oct. 2, 2023 linked to Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.25%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting March 28, 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 60% 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: | Nasdaq-100 index and Russell 2000 index
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Amount: | $1,307,000
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Maturity: | Oct. 2, 2023
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Coupon: | 5.25%, paid quarterly, if each underlying index closes at or above its 75% 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 underlying index
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Call: | Automatically starting March 28, 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: | 15,204.83 for Nasdaq, 2,281.003 for Russell
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Downside thresholds: | 9,122.898 for Nasdaq, 1,368.602 for Russell, 60% of initial levels
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Coupon barriers: | 11,403.623 for Nasdaq, 1,710.752 for Russell, 75% of initial levels
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Pricing date: | Sept. 27, 2021
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Settlement date: | Sept. 30, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.6%
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Cusip: | 61773FYF4
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