Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.21 million 5.9% contingent income autocalls on indexes
Chicago, June 7 – Morgan Stanley Finance LLC priced $1.21 million of contingent income autocallable securities due Nov. 1, 2024 linked to the worst performing of the S&P 500 index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.9%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Jan. 31, 2022 at par if the level of each underlying index is greater than or equal to its initial level 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, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1.21 million
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| Maturity: | Nov. 1, 2024
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| Coupon: | 5.9% annual rate, paid quarterly, if each underlying index closes at or above its 70% 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 Jan. 31, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 15,850.47 for Nasdaq, 2,297.191 for Russell, 4,605.38 for S&P
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| Downside threshold: | 9,510.282 for Nasdaq, 1,378.315 for Russell, 2,763.228 for S&P, 60% of initial levels
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| Coupon barrier: | 11,095.329 for Nasdaq, 1,608.034 for Russell, 3,223.766 for S&P, 70% of the initial levels
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| Pricing date: | Oct. 29, 2021
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| Settlement date: | Nov. 3, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773HCB3
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