Published on 12/13/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.12 million contingent income autocalls on Russell, S&P
New York, Dec. 13 – Morgan Stanley Finance LLC priced $2.12 million of contingent income autocallable securities due Dec. 12, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.5%, paid quarterly, if each underlying index closes at or above its downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 8, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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 and S&P 500 index
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Amount: | $2,115,000
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Maturity: | Dec. 12, 2024
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Coupon: | 6.5%, paid quarterly, if each underlying index closes at or above its 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 June 8, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date
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Initial level: | 2,271.706 for Russell, 4,701.21 for S&P
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Downside threshold: | 1,590.194 for Russell, 3,290.847 for S&P; 70% of initial levels
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Pricing date: | Dec. 8
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Settlement date: | Dec. 13
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.5%
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Cusip: | 61773HRT8
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