Published on 5/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 8% contingent income buffered autocallables on S&P, ARK ETF
Chicago, May 12 – Morgan Stanley Finance LLC priced $250,000 of contingent income buffered autocallable securities due July 10, 2024 linked to the S&P 500 Index and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid monthly, if each underlier closes at or above its 85% coupon barrier on the related monthly observation date.
The securities will be called automatically starting April 8, 2022 at par on any quarterly call determination date if both underliers close above their initial levels.
At maturity the payout will be par unless each asset declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing asset beyond the buffer.
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 assets: | S&P 500 Index and ARK Innovation ETF
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| Amount: | $250,000
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| Maturity: | July 10, 2024
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| Coupon: | 8%, paid monthly, if each underlier closes at or above its 85% 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 asset gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing underlier beyond the buffer
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| Call: | Automatically starting April 8, 2022 at par on any quarterly call determination date if both assets close above initial levels
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| Initial levels: | $109.04 for ETF, 4,345.72 for S&P
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| Buffer: | 15%
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| Coupon barrier: | $92.684 for ETF, 3,693.862 for S&P, 85% of the initial levels
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| Pricing date: | Oct. 5, 2021
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| Settlement date: | Oct. 8, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61773F3T8
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