Published on 12/31/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.33 million 5% fixed income buffered autocalls on index, ETF
By William Gullotti
Buffalo, N.Y., Dec. 31 – Morgan Stanley Finance LLC priced $3.33 million of 5% fixed income buffered autocallable securities due May 15, 2023 linked to the worst performing of the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable semiannually.
The notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level on any semiannual early redemption determination date.
If the final level of each underlier is greater than or equal to 80% of its initial level, the payout at maturity will be par plus the last fixed coupon. Otherwise, investors will lose 1.25% for every 1% that the worst performer declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Fixed income buffered autocallable securities
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| Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF
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| Amount: | $3,332,000
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| Maturity: | May 15, 2023
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| Coupon: | 5% per year, payable semiannually
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| Price: | Par
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| Payout at maturity: | If final level of each underlier is greater than or equal to 80% of initial level, par plus last fixed coupon; otherwise, 1.25% loss for every 1% that the worst performer declines beyond 20%
|
| Call: | At par plus coupon if each underlier closes at or above its initial level on any semiannual early redemption determination date
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| Initial index levels: | 2,389.582 for Russell, $80.65 for EAFE ETF
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| Coupon barrier levels: | 1,911.666 for Russell, $64.52 for EAFE ETF; 80% of initial levels
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| Strike date: | Nov. 10
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 17
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.15%
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| Cusip: | 61773HGJ2
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