Published on 1/19/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.46 million contingent income autocallables linked to three ETFs
New York, Jan. 19 – Morgan Stanley Finance LLC priced $1.46 million of contingent income autocallable securities due Aug. 31, 2023 linked to the Financial Select Sector SPDR Fund, the Materials Select Sector SPDR Fund and the VanEck Vectors Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.15%, paid quarterly, if each underlying fund closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 3, 2022 at par if the price of each underlying fund 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 fund closes below its 75% downside threshold in which case investors will be fully exposed to the decline of the worst performing fund.
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 ETFs: | Financial Select Sector SPDR Fund, Materials Select Sector SPDR Fund and VanEck Vectors Semiconductor ETF
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| Amount: | $1,456,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 11.15%, paid quarterly, if each underlying fund closes at or above its 75% 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 fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
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| Call: | Automatically starting March 3, 2022 at par if the price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $272.04 for VanEck, $85.95 for Materials SPDR Fund, $39.00 for Financial SPDR Fund
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| Downside thresholds: | $204.03 for VanEck, $64.463 for Materials SPDR Fund, $29.25 for Financial SPDR Fund, 75% of initial levels
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| Pricing date: | Aug. 27, 2021
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| Settlement date: | Sept. 1, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61773FUD3
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