Published on 11/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 8.65% contingent income autocallables on indexes
Chicago, Nov. 10 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due Sept. 8, 2023 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.65%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Sept. 2, 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 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, Dow Jones industrial average and Nasdaq-100 index
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Amount: | $500,000
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Maturity: | Sept. 8, 2023
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Coupon: | 8.65% annual rate, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | 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 Sept. 2, 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: | 33,891.35 for Dow, 14,243.69 for Nasdaq, 2,058.871 for Russell
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Downside thresholds: | 23,723.945 for Dow, 9,970.583 for Nasdaq, 1,441.210 for Russell, 70% of initial levels
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Coupon barriers: | 27,113.08 for Dow, 11,394.952 for Nasdaq, 1,647.097 for Russell, 80% of initial levels
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Pricing date: | March 2
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Settlement date: | March 7
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61773QJG5
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