Published on 12/3/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.38 million 6.15% contingent income autocallables linked to Russell, Nasdaq, Dow
New York, Dec. 3 – Morgan Stanley Finance LLC priced $3.38 million of contingent income auto-callable securities due Nov. 29, 2024 linked to 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 6.15%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting May 26, 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 auto-callable securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones Industrial Average
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Amount: | $3,378,000
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Maturity: | Nov. 29, 2024
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Coupon: | 6.15%, paid monthly, if each underlying index closes at or above its 75% 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 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 May 26, 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: | 35,813.80 for Dow, 16,306.72 for Nasdaq, 2,327.855 for Russell
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Downside threshold: | 25,069.66 for Dow, 11,414.704 for Nasdaq, 1,629.499 for Russell, 70% of initial levels
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Coupon barrier: | 26,860.35 for Dow, 12,230.04 for Nasdaq, 1,745.891 for Russell, 75% of the initial levels
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Pricing date: | Nov. 23
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Settlement date: | Nov. 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61773HHW2
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