Published on 8/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $633,000 contingent coupon autocallables on indexes
Chicago, Aug. 8 – Morgan Stanley Finance LLC priced $633,000 of market-linked securities that are autocallable with contingent coupon and contingent downside due June 23, 2023 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related observation date.
The securities will be called automatically starting after six months 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 if the indexes close above the 75% downside threshold level. Otherwise, investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $633,000
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| Maturity: | June 23, 2023
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| Coupon: | 9% annual rate, paid quarterly, if each underlying index closes at or above its downside threshold on the related observation date
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| Price: | Par
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| Payout at maturity: | Par if the indexes close above the downside threshold level; otherwise, investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting after six months 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: | 35,365.44 for Dow, 15,801.46 for Nasdaq, 2,173.931 for Russell
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| Downside thresholds: | 26,524.08 for Dow, 11,851.095 for Nasdaq, 1,630.44825 for Russell, 75% of initial levels
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| Pricing date: | Dec. 17, 2021
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| Settlement date: | Dec. 22, 2021
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 1.525%
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| Cusip: | 61773HNB1
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