Published on 2/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.58 million contingent income buffered autocallables on indexes
Chicago, Feb. 14 – Morgan Stanley Finance LLC priced $1.58 million of contingent income buffered autocallable securities due Nov. 1, 2023 linked to the worst performing of the 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 10%, 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 Nov. 1, 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 each index declines by more than its 15% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income buffered autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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| Amount: | $1.58 million
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| Maturity: | Nov. 1, 2023
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| Coupon: | 10% 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 if the worst performing index gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically starting Nov. 1, 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: | 13,003.36 for Nasdaq, 1,884.038 for Russell, 4,183.96 for S&P
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| Coupon barriers: | 9,102.352 for Nasdaq, 1,318.827 for Russell, 2,928.772 for S&P, 70% of initial levels
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| Buffer levels: | 11,052.856 for Nasdaq, 1,601.432 for Russell, 3,556.366 for S&P, 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | April 29, 2022
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| Settlement date: | May 6, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 61773Q6A2
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