Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.25 million contingent income autocalls linked to five stocks
New York, Nov. 1 – Morgan Stanley Finance LLC priced $2.25 million of contingent income autocallable securities due Sept. 29, 2022 linked to the worst performing of the common stocks of Amazon.com, Inc., Apple Inc., Alphabet Inc., Tesla, Inc. and Goldman Sachs Group, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 25%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting June 30 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Amazon.com, Inc., Apple Inc., Alphabet Inc., Tesla, Inc. and Goldman Sachs Group, Inc.
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| Amount: | $2.25 million
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| Maturity: | Sept. 29, 2022
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| Coupon: | 25% annual rate, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call: | Automatically starting June 30 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $120.59 for Apple Inc., $3,046.26 for Amazon.com, Inc., $2,044.36 for Alphabet Inc., $330.55 for Goldman Sachs Group, Inc., $640.39 for Tesla, Inc.
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| Downside thresholds: | $60.295 for Apple Inc., $1,523.13 for Amazon.com, Inc., $1,022.18 for Alphabet Inc. class C capital stock, $165.275 for Goldman Sachs Group, Inc., $320.195 for Tesla, Inc., 50% of initial levels
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| Coupon barrier: | $72.354 for Apple Inc., $1,827.756 for Amazon.com, Inc., $1,226.616 for Alphabet Inc. class C capital stock, $198.33 for Goldman Sachs Group, Inc., $384.234 for Tesla, Inc., 60% of the initial levels
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| Pricing date: | March 25
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| Settlement date: | March 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771VKP4
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