Published on 12/25/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $943,000 contingent income autocalls on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Dec. 29 – Morgan Stanley Finance LLC priced $943,000 of contingent income autocallable securities due March 2, 2023 tied to the worst performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 6.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any monthly call determination date after six months.
If the lowest-performing index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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 autocallable securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $943,000
|
| Maturity: | March 2, 2023
|
| Coupon: | 6.25% per year, payable monthly if each index closes at or above coupon barrier level on observation date that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus the final coupon; otherwise, full exposure to decline of lowest-performing index from its initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any monthly call determination date after six months
|
| Initial levels: | 15,278.52 for Nasdaq, 2,213.979 for Russell
|
| Downside threshold levels: | 10,694.964 for Nasdaq, 1,549.785 for Russell; 70% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61773FTD5
|
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