Published on 4/13/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.38 million contingent income autocalls on Russell, Nasdaq, Dow
By Kiku Steinfeld
Chicago, April 13 – Morgan Stanley Finance LLC priced $1.38 million of contingent income autocallable securities due Sept. 29, 2026 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 a coupon of 9.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Dec. 30, 2021 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 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, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $1,378,000
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| Maturity: | Sept. 29, 2026
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| Coupon: | 9.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
| 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 Dec. 30, 2021 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: | 34,798.00 for Dow, 15,329.68 for Nasdaq, 2,248.075 for Russell
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| Coupon barriers: | 26,098.50 for Dow, 11,497.26 for Nasdaq, 1,686.056 for Russell, 75% of the initial levels
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| Downside thresholds: | 24,358.60 for Dow, 10,730.776 for Nasdaq, 1,573.653 for Russell, 70% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61773FK51
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