Published on 12/4/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $329,000 contingent income buffered autocalls on index, ETF
Chicago, Dec. 4 – Morgan Stanley Finance LLC priced $329,000 of contingent income buffered autocallable securities due April 1, 2024 linked to the worst performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The securities are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each underlier closes at or above its 85% coupon barrier on the corresponding observation date.
The notes will be called at par plus coupon if each underlier closes at or above its initial level on any monthly review date after one year.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above the 85% buffer level. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Issue: | Contingent income buffered autocallable securities
|
| Guarantor: | Morgan Stanley
|
| Underlying assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $329,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 7% annualized, payable monthly if each underlier closes at or above coupon barrier on review date on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above buffer level, par plus final coupon; otherwise, 1% loss for each 1% decline of worst performing underlier below 15%
|
| Call: | At par plus coupon if each underlier closes at or above its initial level on any monthly call date after one year
|
| Initial levels: | $53.27 for ETF, 2,221.482 for Russell
|
| Coupon barrier levels: | $45.28 for ETF, 1,888.26 for Russell; 85% of initial levels
|
| Buffer levels: | $45.28 for ETF, 1,888.26 for Russell; 85% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61771VDB3
|
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