New Issue: Morgan Stanley prices $606,000 8.5% contingent income autocalls on indexes, ETF

By Kiku Steinfeld

Chicago, Dec. 1 – Morgan Stanley Finance LLC priced $606,000 of contingent income autocallable securities due March 31, 2027 linked to the Russell 2000 index, Nasdaq-100 index and Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 8.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.

The securities will be called automatically starting March 30, 2023 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date.

At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying assets:	Russell 2000 index, Nasdaq-100 index and Energy Select Sector SPDR Fund
Amount:	$606,000
Maturity:	March 31, 2027
Coupon:	8.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
Price:	Par
Payout at maturity:	Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
Call:	Automatically starting March 30, 2023 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date
Initial levels:	14,754.31 for Nasdaq, 2,077.983 for Russell, $78.75 for Fund
Downside thresholds:	8,852.586 for Nasdaq, 1,246.790 for Russell, $47.25 for Fund, 60% of initial level
Coupon barriers:	10,328.017 for Nasdaq, 1,454.588 for Russell, $55.125 for Fund, 70% of initial levels
Pricing date:	March 25, 2022
Settlement date:	March 30, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	3.625%
Cusip:	61773QUG2

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