Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $785,000 12.5% contingent income autocallables linked to stocks
Chicago, May 17 – Morgan Stanley Finance LLC priced $785,000 of contingent income autocallable securities due Oct. 26, 2023 linked to the worst performing of Apple Inc., Netflix, Inc. and Facebook, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlying stock closes at or above its 70% downside threshold on the related quarterly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting Jan. 26, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 70% downside threshold 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: | Apple Inc., Netflix, Inc. and Facebook, Inc.
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| Amount: | $785,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | 12.5% annual rate, paid quarterly, if each underlying stock closes at or above its 70% downside threshold on the related quarterly observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call: | Automatically starting Jan. 26, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $148.76 for Apple, $339.99 for Facebook, $639.00 for Netflix
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| Downside thresholds: | $104.132 for Apple, $237.993 for Facebook, $447.30 for Netflix, 70% of initial levels
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| Pricing date: | Oct. 20, 2021
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| Settlement date: | Oct. 27, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.55%
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| Cusip: | 61773F6J7
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