Published on 12/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.01 million contingent income buffered autocalls on two indexes
New York, Dec. 12 – Morgan Stanley Finance LLC priced $3.01 million of contingent income buffered autocallable securities due Oct. 23, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly call determination date starting April 13, 2023.
At maturity, the payout will be par unless the laggard index declines by more than 20%, in which case investors will lose 1% for each 1% decline of the laggard index beyond 20%.
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: | S&P 500 index and Russell 2000 index
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| Amount: | $3.01 million
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| Maturity: | Oct. 23, 2023
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| Coupon: | 11%, paid monthly, if each underlying index closes at or above its 80% 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 finishes at or above 80% of initial level; otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 20%
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly call determination date starting April 13, 2023
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| Initial levels: | 1,728.412 for Russell 2000, 3,669.91 for S&P 500
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| Buffer: | 20%
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| Coupon barriers: | 1,382.730 for Russell 2000 index, 2,935.928 for S&P 500 index, 80% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774HQV3
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