Published on 8/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.53 million 7.5% contingent income autocallables on indexes
Chicago, Aug. 17 – Morgan Stanley Finance LLC priced $1.53 million of contingent income autocallable securities due July 29, 2027 linked to the worst performing of the Russell 2000 index, S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting Jan. 26, 2023 at par if the level of each underlying index is greater than or equal to 105% of its initial level on any monthly call determination date.
If the notes are not called, at maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing 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: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $1.53 million
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| Maturity: | July 29, 2027
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| Coupon: | 7.5% annual rate, paid monthly, if each 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: | If not called, 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 index
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| Call: | Automatically starting Jan. 26, 2023 at par if the level of each underlying index is greater than or equal to 105% of its initial level on any monthly call determination date
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| Initial levels: | 31,761.54 for Dow, 1,805.246 for Russell, 3,921.05 for S&P
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| Downside threshold levels: | 22,233.078 for Dow, 1,263.672 for Russell, 2,744.735 for S&P, 70% of initial levels
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| Call threshold levels: | 33,349.617 for Dow, 1,895.508 for Russell index, 4,117.103 for S&P index, 105% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.33%
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| Cusip: | 61774DD53
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