Published on 1/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $716,000 5.1% contingent income autocallables on S&P, Dow, Nasdaq
New York, Jan. 10 – Morgan Stanley Finance LLC priced $716,000 of contingent income autocallable securities due Aug. 28, 2025 linked to S&P 500 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.1%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Feb. 28, 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 60% 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: | S&P 500 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $716,000
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| Maturity: | Aug. 28, 2025
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| Coupon: | 5.1%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier 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 Feb. 28, 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: | 35,335.71 for Dow Jones industrial average, 15,312.82 for Nasdaq-100 index, 4,479.53 for S&P 500 index
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| Downside threshold: | 21,201.426 for Dow Jones industrial average, 9,187.692 for Nasdaq-100 index, 2,687.718 for S&P 500 index, 60% of initial levels
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| Coupon barrier: | 28,268.568 for Dow Jones industrial average, 12,250.256 for Nasdaq-100 index, 3,583.624 for S&P 500 index, 80% of the initial levels
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| Pricing date: | Aug. 23, 2021
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| Settlement date: | Aug. 26, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61773FRW5
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