Published on 12/31/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $302,000 contingent income autocalls on Russell, Nasdaq, Dow
By Kiku Steinfeld
Chicago, Dec. 31 – Morgan Stanley Finance LLC priced $302,000 of contingent income autocallable securities due May 25, 2023 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier level on the related quarterly observation date.
The securities will be called automatically at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date after six months.
At maturity the payout will be par unless the worst performing index closes below its 70% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount: | $302,000
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| Maturity: | May 25, 2023
|
| Coupon: | 5.5%, paid quarterly, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date after six months
|
| Initial level: | 35,120.08 for Dow, 15,092.57 for Nasdaq, 2,167.600 for Russell
|
| Coupon barriers: | 26,340.06 for Dow, 11,319.428 for Nasdaq, 1,625.700 for Russell; 75% of initial levels
|
| Downside thresholds: | 24,584.056 for Dow, 10,564.799 for Nasdaq, 1,517.320 for Russell; 70% of initial levels
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.875%
|
| Cusip: | 61773FRE5
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