Published on 10/27/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.76 million contingent income autocalls on AMD, JPMorgan, Alphabet
New York, Oct. 27 – Morgan Stanley Finance LLC priced $3.76 million of contingent income autocallable securities due Sept. 25, 2025 linked to the stocks of Advanced Micro Devices, Inc., JPMorgan Chase & Co. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.15%, 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 at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly call determination date starting Dec. 23.
At maturity, the payout will be par unless the worst performing stock finishes 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: | Advanced Micro Devices, Inc., JPMorgan Chase & Co. and Alphabet Inc. class A
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| Amount: | $3.76 million
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| Maturity: | Sept. 25, 2025
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| Coupon: | 20.15%, 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 finishes 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 at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly call determination date starting Dec. 23
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| Initial levels: | $75.25 for Advanced Micro Devices, $101.140 for Alphabet, $115.83 for JPMorgan Chase
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| Downside thresholds: | $45.15 for Advanced Micro Devices, $60.684 for Alphabet, $69.498 for JPMorgan Chase, 60% of initial level
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4%
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| Cusip: | 61774HEQ7
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