Published on 3/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.5 million 13.75% contingent income autocalls on indexes
New York, March 17 – Morgan Stanley Finance LLC priced $2.5 million of contingent income autocallable securities due Feb. 27, 2025 linked to Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 13.75%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Aug. 23, 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 80% 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 Dow Jones industrial average
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Amount: | $2.5 million
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Maturity: | Feb. 27, 2025
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Coupon: | 13.75%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly 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 Aug. 23, 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: | 33,131.76 for Dow Jones industrial average, 13,509.43 for Nasdaq-100 index, 1,944.092 for Russell 2000 index
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Downside threshold: | 26,505.408 for Dow Jones industrial average, 10,807.544 for Nasdaq-100 index, 1,555.274 for Russell 2000 index, 80% of initial levels
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Pricing date: | Feb. 24
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Settlement date: | March 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61773QEJ4
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