Published on 11/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 9% contingent income buffered autocalls on indexes
By Kiku Steinfeld
Chicago, Nov. 23 – Morgan Stanley Finance LLC priced $500,000 of contingent income buffered autocallable securities due March 27, 2024 linked to Russell 2000 index, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Sept. 22, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date.
At maturity the payout will be par unless each index declines by more than its 20% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
|
| Amount: | $500,000
|
| Maturity: | March 27, 2024
|
| Coupon: | 9%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the worst performing index gains or loses no more than its 20% buffer, otherwise investors will be exposed to the decline in the worst performing index beyond the buffer
|
| Call: | Automatically starting Sept. 22, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
|
| Initial levels: | 14,654.33 for Nasdaq, 2,088.343 for Russell, 4,511.61 for S&P
|
| Buffer: | 20%
|
| Coupon barriers: | 11,723.464 for Nasdaq 1,670.674 for Russell, 3,609.288 for S&P, 80% of initial levels
|
| Pricing date: | March 22
|
| Settlement date: | March 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.7%
|
| Cusip: | 61773QSD2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
