Published on 11/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $641,000 contingent income buffered autocalls on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Nov. 14 – Morgan Stanley Finance LLC priced $641,000 of contingent income buffered autocallable securities due Dec. 16, 2024 linked to Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.35%, paid monthly, if each underlying index closes at or above its 85% 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 monthly call determination date after six months.
At maturity the payout will be par unless each index declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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 buffered autocallable securities
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $641,000
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| Maturity: | Dec. 16, 2024
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| Coupon: | 7.35%, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the worst performing index gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing index beyond the buffer
|
| Call: | Automatically at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date after six months
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| Initial levels: | 13,301.83 for Nasdaq, 1,979.668 for Russell
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| Buffer: | 15%
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| Coupon barrier: | 13,301.83 for Nasdaq, 1,682.718 for Russell, 85% of the initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773QQP7
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