Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.33 million 13.58% contingent income autocallables linked to stocks
Chicago, May 16 – Morgan Stanley Finance LLC priced $1.33 million of contingent income autocallable securities due Oct. 10, 2024 linked to FedEx Corp., Mastercard Inc., Apple Inc., Microsoft Corp. and Academy Sports & Outdoors common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.58%, 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 12, 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: | FedEx Corp., Mastercard Inc., Apple Inc., Microsoft Corp. and Academy Sports & Outdoors Inc.
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| Amount: | $1,328,000
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| Maturity: | Oct. 10, 2024
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| Coupon: | 13.58% annual rate, 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 12, 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: | $143.29 for Apple, $41.92 for Academy, $222.95 for FedEx, $353.91 for Mastercard, $294.85 for Microsoft
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| Downside thresholds: | $85.974 for Apple, $25.152 for Academy, $133.77 for FedEx, $212.346 for Mastercard, $176.91 for Microsoft, 60% of initial levels
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| Pricing date: | Oct. 7, 2021
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| Settlement date: | Oct. 13, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773FX24
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