Published on 5/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.54 million contingent income autocallables on three indexes
New York, May 11 – Morgan Stanley Finance LLC priced $1.54 million of contingent income autocallable securities due May 9, 2024 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.17%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date. Previously unpaid coupons, if any, will be automatically included whenever a contingent coupon is paid.
The securities will be called automatically starting Nov. 10, 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 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: | $1,535,000
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| Maturity: | May 9, 2024
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| Coupon: | 12.17%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date; coupon payment events will automatically include any previously unpaid coupons
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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 Nov. 10, 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: | 32,899.37 for Dow Jones industrial average, 12,693.54 for Nasdaq-100, 1,839.565 for Russell 2000
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| Downside threshold: | 23,029.559 for Dow Jones industrial average, 8,885.478 for Nasdaq-100, 1,287.696 for Russell 2000, 70% of initial levels
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| Coupon barrier: | 26,319.496 for Dow Jones industrial average, 10,154.832 for Nasdaq-100 index, 1,471.652 for Russell 2000 index, 80% of the initial levels
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61774DAS6
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