Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $511,000 8.5% contingent income autocallables on indexes
Chicago, June 7 – Morgan Stanley Finance LLC priced $511,000 of contingent income autocallable securities due May 4, 2023 linked to the worst performing of the Russell 2000 index, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, 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 starting April 29, 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 any index closes below its 70% downside threshold on any day during the life of the notes in which case investors will be fully exposed to the return of the worst performing index with a maximum payout of par.
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: | $511,000
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Maturity: | May 4, 2023
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Coupon: | 8.5% annual rate, 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 level during the life of the notes in which case investors will be fully exposed to the return of the worst performing underlying index with a maximum payout of par
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Call: | Automatically starting April 29, 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: | 15,850.47 for Nasdaq, 2,297.191 for Russell, 4,605.38 for S&P
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Downside thresholds: | 11,095.329 for Nasdaq, 1,608.034 for Russell, 3,223.766 for S&P, 70% of initial levels
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Pricing date: | Oct. 29, 2021
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Settlement date: | Nov. 3, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61773F3Y7
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