Published on 3/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.81 million contingent income buffered autocallables on Nasdaq, Russell
New York, March 21 – Morgan Stanley Finance LLC priced $10.81 million of contingent income buffered autocallable securities due March 19, 2027 linked to Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date.
The securities will be called automatically starting March 16, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date.
At maturity the payout will be par unless each index declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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 buffered autocallable securities
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $10,812,000
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| Maturity: | March 19, 2027
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| Coupon: | 7.75%, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the worst performing index gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically starting March 16, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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| Initial levels: | 13,956.79 for Nasdaq-100 index, 2,030.72 for Russell 2000 index
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| Buffer: | 15%
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| Coupon barrier: | 11,863.272 for Nasdaq-100 index, 1,726.112 for Russell 2000 index, 85% of the initial levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.64%
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| Cusip: | 61773QQP7
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