Published on 3/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $570,000 fixed-income autocalls on three indexes
By Kiku Steinfeld
Chicago, March 22 – Morgan Stanley Finance LLC priced $570,000 of 4.25% fixed-income autocallable securities due Sept. 21, 2026 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly redemption determination date.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The agent is Morgan Stanley & Co. LLC.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Fixed-income autocallable securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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Amount: | $570,000
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Maturity: | Sept. 21, 2026
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Coupon: | 4.25% per year, payable quarterly
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Price: | Par of $10
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Payout at maturity: | Par unless any index finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
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Call: | Automatically at par if each index closes at or above its initial level on any quarterly call determination date
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Initial index levels: | 4,473.75 for S&P, 2,232.911 for Russell, 15,515.91 for Nasdaq
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Downside thresholds: | 3,131.625 for S&P, 1,563.038 for Russell, 10,861.137 for Nasdaq; 70% of initial levels
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Pricing date: | Sept. 17, 2021
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Settlement date: | Sept. 22, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61773FZD8
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