Published on 3/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.89 million contingent income autocalls on Russell, Dow, Nasdaq
By Kiku Steinfeld
Chicago, March 22 – Morgan Stanley Finance LLC priced $1.89 million of contingent income autocallable securities due March 22, 2023 linked to Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.22% per year, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly 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 level on any quarterly call determination date starting March 22, 2022.
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
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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, Dow Jones industrial average and Nasdaq-100 index
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Amount: | $1,885,000
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Maturity: | March 22, 2023
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Coupon: | 9.22% per year, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly 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 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting March 22, 2022
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Initial levels: | 34,584.88 for Dow, 15,333.47 for Nasdaq, 2,236.871 for Russell
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Coupon barriers: | 27,667.904 for Dow, 12,266.776 for Nasdaq, 1,789.497 for Russell, 80% of initial levels
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Downside threshold: | 24,209.416 for Dow, 10,733.429 for Nasdaq, 1,565.810 for Russell, 70% of initial levels
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Pricing date: | Sept. 17, 2021
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Settlement date: | Sept. 22, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.3%
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Cusip: | 61773FYL1
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