New York, May 23 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due May 16, 2023 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid monthly, if the underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically at par starting Nov. 16, 2022 if the index closes at or above its initial level on any monthly call determination date.
At maturity the payout will be par unless the underlying index closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the 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 index: | S&P 500 index
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Amount: | $1 million
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Maturity: | May 16, 2023
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Coupon: | 8%, paid monthly, if the underlying index closes at or above its 70% downside threshold on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the index closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying index
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Call: | Automatically starting Nov. 16, 2022 at par if index closes at or above initial level on any monthly call determination date
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Initial level: | 3,935.18
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Downside threshold: | 2,754.626, 70% of initial level
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Pricing date: | May 16
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Settlement date: | May 19
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61774DDM6
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