Published on 6/14/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.97 million 7.25% contingent income autocalls on Russell, Nasdaq, Dow
New York, June 14 – Morgan Stanley Finance LLC priced $3.97 million of contingent income autocallable securities due Sept. 14, 2023 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 7.25%, paid quarterly, if each underlying index closes at or above its 50% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Sept. 9 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 50% 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: | $3,966,000
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Maturity: | Sept. 14, 2023
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Coupon: | 7.25%, paid quarterly, if each underlying index closes at or above its 50% 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 Sept. 9 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: | 32,272.79 for Dow Jones industrial average, 12,269.78 for Nasdaq-100, 1,850.856 for Russell 2000
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Downside threshold: | 16,136.395 for Dow Jones industrial average, 6,134.89 for Nasdaq-100, 925.428 for Russell 2000, 50% of initial levels
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Pricing date: | June 9
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Settlement date: | June 14
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61774DJW8
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