Published on 11/13/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $714,000 30% contingent income autocallables on three stocks
By Kiku Steinfeld
Chicago, Nov. 14 – Morgan Stanley Finance LLC priced $714,000 of contingent income autocallable securities due Dec. 19, 2023 linked to the common stocks of Valero Energy Corp., Ford Motor Co. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 30% per year, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting June 17 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% downside threshold level 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Valero Energy Corp., Ford Motor Co. and Meta Platforms, Inc.
|
| Amount: | $714,000
|
| Maturity: | Dec. 19, 2023
|
| Coupon: | 30% per year, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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 stock
|
| Call: | Automatically starting June 17 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
|
| Initial levels: | $15.74 for Ford, $186.63 for Meta, $90.55 for Valero
|
| Downside thresholds: | $7.87 for Ford, $93.315 for Meta, $45.275 for Valero, 50% of initial level
|
| Coupon barriers: | $11.018 for Ford, $130.641 for Meta, $63.385 for Valero, 70% of initial levels
|
| Pricing date: | March 14
|
| Settlement date: | March 17
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.7%
|
| Cusip: | 61773QPX1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
