Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $905,000 5% contingent income buffered autocalls on indexes
Chicago, May 17 – Morgan Stanley Finance LLC priced $905,000 of contingent income buffered autocallable securities due July 25, 2024 linked to the worst performing of the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5%, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date.
The securities will be called automatically starting April 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 each index declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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 buffered autocallable securities
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $905,000
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| Maturity: | July 25, 2024
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| Coupon: | 5% annual rate, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the worst performing index gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically starting April 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: | 15,388.71 for Nasdaq, 2,289.765 for Russell
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| Buffer: | 15%
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| Coupon barrier: | 13,080.404 for Nasdaq, 1,946.300 for Russell, 85% of the initial levels
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| Pricing date: | Oct. 20, 2021
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| Settlement date: | Oct. 25, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773FW66
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