Published on 12/4/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.47 million contingent income buffered autocalls on indexes
Chicago, Dec. 4 – Morgan Stanley Finance LLC sold $1.47 million of contingent income buffered autocallable securities due April 1, 2024 tied to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6% per year if each index closes at or above its coupon threshold level, 85% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly redemption determination date after one year.
If the final level of each index is greater than or equal to 85% of its initial level, the payout at maturity will be par plus the last contingent coupon. Otherwise, investors will lose 1% for every 1% that the least-performing index declines beyond the 15% 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 indexes: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,471,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 6% per year, payable each month if each index closes at or above its coupon threshold level on the related determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below buffer level, in which case investors will lose 1% for each 1% decline of the worst performing index beyond the 15% buffer
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly redemption determination date after one year
|
| Initial levels: | 2,221.482 for Russell, 12,979.12 for Nasdaq
|
| Coupon thresholds: | 1,888.260 for Russell, 11,032.252 for Nasdaq; 85% of initial levels
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| Buffer levels: | 1,888.260 for Russell, 11,032.252 for Nasdaq; 85% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61771VDA5
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