Published on 1/31/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.33 million contingent income autocalls on Apple, Ford, Qualcomm
New York, Jan. 31 – Morgan Stanley Finance LLC priced $2.33 million of contingent income autocallable securities due Jan. 30, 2025 linked to Apple Inc., Ford Motor Co. and Qualcomm Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date.
The securities will be called automatically starting July 29, 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., Ford Motor Co. and Qualcomm Inc.
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| Amount: | $2,334,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 16.5%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly 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 July 29, 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: | $159.69 for Apple Inc., $19.91 for Ford Motor Co., $167.00 for Qualcomm Inc.
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| Downside thresholds: | $95.814 for Apple Inc., $11.946 for Ford Motor Co., $100.20 for Qualcomm Inc., 60% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61773HXX2
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