Published on 1/24/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 32% contingent income autocallables on stocks
Chicago, Jan. 24 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due April 24, 2025 linked to the worst performing of the common stocks of Etsy, Inc., Ford Motor Co. and Twilio Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 32%, paid monthly, if each underlying stock closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 26, 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 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Etsy, Inc., Ford Motor Co. and Twilio Inc.
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| Amount: | $500,000
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| Maturity: | April 24, 2025
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| Coupon: | 32% annual rate, paid monthly, if each underlying stock closes at or above its 65% coupon barrier 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 stock
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| Call: | Automatically starting July 26, 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: | $101.79 for Etsy, $15.70 for Ford, $124.84 for Twilio
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| Downside thresholds: | $61.074 for Etsy, $9.42 for Ford, $74.904 for Twilio, 60% of initial levels
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| Coupon barriers: | $66.164 for Etsy, Inc., $10.205 for Ford, $81.146 for Twilio, 65% of initial levels
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| Pricing date: | April 22, 2022
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| Settlement date: | April 27, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773Q2A6
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