Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.32 million contingent income autocalls on Apple, Capital One, Netflix, Facebook
New York, May 18 – Morgan Stanley Finance LLC priced $1.32 million of contingent income autocallable securities due Oct. 29, 2026 linked to Apple Inc., Capital One Financial Corp., Netflix, Inc. and Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 10%, paid quarterly, if each underlying stock closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting April 28, 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 60% 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., Capital One Financial Corp., Netflix, Inc. and Facebook, Inc.
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| Amount: | $1,321,000
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| Maturity: | Oct. 29, 2026
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| Coupon: | 10%, paid quarterly, if each underlying stock closes at or above its 60% 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 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 April 28, 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: | $148.64 for Apple, $168.68 for Capital One Financial, $328.69 for Facebook, $671.66 for Netflix
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| Downside thresholds: | $89.184 for Apple, $101.208 for Capital One Financial, $197.214 for Facebook, $402.996 for Netflix, 60% of initial levels
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| Pricing date: | Oct. 25, 2021
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| Settlement date: | Oct. 28, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4%
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| Cusip: | 61773F5Y5
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