Published on 5/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million contingent income autocalls on Russell, Nasdaq, S&P
New York, May 12 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due April 10, 2023 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 7, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 65% downside threshold in which case investors will be fully exposed to the decline of that index.
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 indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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Amount: | $1,003,000
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Maturity: | April 10, 2023
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Coupon: | 7.75%, paid monthly, if each underlying index closes at or above its 70% 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 index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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Call: | Automatically starting Jan. 7, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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Initial levels: | 14,472.12 for Nasdaq-100, 2,217.470 for Russell 2000, 4,300.46 for S&P 500
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Downside threshold: | 9,406.878 for Nasdaq-100, 1,441.356 for Russell 2000, 2,795.299 for S&P 500, 65% of initial levels
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Coupon barrier: | 10,130.484 for Nasdaq-100 index, 1,552.229 for Russell 2000 index, 3,010.322 for S&P 500 index, 70% of the initial levels
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Pricing date: | Oct. 4, 2021
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Settlement date: | Oct. 7, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61773FV34
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