Published on 4/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.86 million 10.5% contingent income autocallables linked to FedEx, Union Pacific, UPS
New York, April 22 – Morgan Stanley Finance LLC priced $1.86 million of contingent income autocallable securities due Oct. 2, 2024 linked to the worst performing of the common stocks of FedEx Corp., Union Pacific Corp. and the class B common stock of United Parcel Service, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if each underlying stock closes at or above its 65% downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 31, 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 65% 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: | FedEx Corp., Union Pacific Corp. and United Parcel Service, Inc.
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| Amount: | $1.86 million
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| Maturity: | Oct. 2, 2024
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| Coupon: | 10.5%, paid quarterly, if each underlying stock closes at or above its 65% 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 March 31, 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: | $226.51 for FedEx, $203.96 for Union Pacific, $186.84 for UPS
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| Downside thresholds: | $147.232 for FedEx, $132.574 for Union Pacific, $121.446 for UPS, 65% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.35%
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| Cusip: | 61773FQ89
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