Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.32 million contingent income autocalls on four tech stocks
New York, Nov. 22 – Morgan Stanley Finance LLC priced $1.32 million of contingent income autocallable securities due Oct. 2, 2025 linked to the stocks of Amazon.com, Inc., Alphabet Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.4%, paid monthly, if each underlying stock closes at or above its 55% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date starting March 30, 2023.
At maturity, the payout will be par unless the worst performing stock finishes below its 55% downside threshold level, 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Amazon.com, Inc., Alphabet Inc. class C capital stock, Apple Inc. and Microsoft Corp.
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| Amount: | $1,317,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 12.4%, paid monthly, if each underlying stock closes at or above its 55% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date starting March 30, 2023
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| Initial levels: | $151.76 for Apple, $114.41 for Amazon.com, $98.09 for Alphabet capital stock, $236.41 for Microsoft
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| Downside thresholds: | $83.468 for Apple, $62.926 for Amazon.com, $53.950 for Alphabet capital stock, $130.026 for Microsoft, 55% of initial level
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61774HEY0
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