E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 5/17/2022 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $1.23 million 13.6% contingent income autocalls on two stocks

New York, May 17 – Morgan Stanley Finance LLC priced $1.23 million of contingent income autocallable securities due Oct. 24, 2024 linked to the worst performing of Cleveland-Cliffs Inc. and Nucor Corp. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 13.6%, paid quarterly, if each underlying stock closes at or above its 50% downside threshold on the related quarterly observation date.

The securities will be called automatically starting April 26, 2022 at par if the price of each underlying stock 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 stock closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Contingent income autocallable securities
Underlying stocks:Cleveland-Cliffs Inc. and Nucor Corp.
Amount:$1,225,000
Maturity:Oct. 24, 2024
Coupon:13.6% annual rate, paid quarterly, if each underlying stock closes at or above its 50% downside threshold on the related quarterly observation date
Price:Par
Payout at maturity:Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
Call:Automatically starting April 26, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
Initial levels:$21.16 for Cleveland-Cliffs, $102.07 for Nucor
Downside thresholds:$10.58 for Cleveland-Cliffs, $51.035 for Nucor, 50% of initial levels
Pricing date:Oct. 21, 2021
Settlement date:Oct. 26, 2021
Agent:Morgan Stanley & Co. LLC
Fees:2.35%
Cusip:61773F6L2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.