Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $444,000 9.5% contingent income autocalls on indexes
Chicago, April 26 – Morgan Stanley Finance LLC priced $444,000 of contingent income autocallable securities due Nov. 30, 2023 linked to the worst performing of the 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 9.5%, 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 Aug. 25, 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 the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing 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 autocallable securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $444,000
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Maturity: | Nov. 30, 2023
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Coupon: | 9.5% 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 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 index
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Call: | Automatically starting Aug. 25, 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: | 32,120.28 for Dow, 11,943.93 for Nasdaq, 1,799.164 for Russell
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Downside thresholds: | 22,484.196 for Dow, 8,360.751 for Nasdaq, 1,259.415 for Russell, 70% of initial levels
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61773Q3T4
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