Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.41 million contingent income buffered autocallables on index, ETF
Chicago, Oct. 25 – Morgan Stanley Finance LLC priced $1.41 million of contingent income buffered autocallable securities due Nov. 29, 2024 linked to the worst performing of the Nasdaq-100 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid monthly, if each underlier closes at or above its 85% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Aug. 26, 2022 at par on any quarterly call determination date if both assets close above their initial levels.
At maturity the payout will be par unless either asset declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing asset beyond the buffer.
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 buffered autocallable securities
|
| Underlying assets: | Nasdaq-100 index and SPDR S&P Regional Banking ETF
|
| Amount: | $1,408,000
|
| Maturity: | Nov. 29, 2024
|
| Coupon: | 10.25% annual rate, paid monthly, if each underlier closes at or above its 85% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the worst performing asset gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing underlier beyond the buffer
|
| Call: | Automatically starting Aug. 26, 2022 at par on any quarterly call determination date if both assets close above initial levels
|
| Initial levels: | $71.88 for Banking ETF, 13,509.43 for Nasdaq
|
| Buffer: | 15%
|
| Coupon barriers: | $61.098 for Banking ETF, 11,483.016 for Nasdaq, 85% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61773HY29
|
|
|
© 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.
