Published on 7/7/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 9.75% contingent income autocalls on indexes
By Kiku Steinfeld
Chicago, July 7 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due June 27, 2023 linked to the Russell 2000 index, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically at par starting June 22, 2022 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 if the indexes never close below the 70% downside threshold level during the life of the notes or the worst performing index ends at or above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing 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, S&P 500 index and Nasdaq-100 index
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| Amount: | $250,000
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| Maturity: | June 27, 2023
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| Coupon: | 9.75%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if the indexes never close below the trigger level or the worst performing index ends at or above its initial level, otherwise, investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par starting June 22, 2022 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: | 16,180.14 for Nasdaq, 2,221.903 for Russell, 4,696.56 for S&P
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| Downside thresholds: | 11,326.098 for Nasdaq, 1,555.332 for Russell, 3,287.592 for S&P, 70% of initial levels
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61773HNN5
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