Published on 2/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $8.74 million 15% contingent income autocallables on indexes, ETF
Chicago, Feb. 14 – Morgan Stanley Finance LLC priced $8.74 million of contingent income autocallable securities due May 2, 2024 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if each underlier closes at or above its 73.6% downside threshold on the related quarterly observation date.
The securities will be called automatically starting July 28, 2022 at par if the level of each underlier 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 asset closes below its 73.6% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Dow Jones industrial average, Nasdaq-100 index and SPDR S&P Regional Banking ETF
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| Amount: | $8,739,000
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| Maturity: | May 2, 2024
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| Coupon: | 15% annual rate, paid quarterly, if each underlier closes at or above its 73.6% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting July 28, 2022 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | 32,977.21 for Dow, $61.84 for Banking ETF, 12,854.80 for Nasdaq
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| Downside thresholds: | 24,271.227 for Dow, $45.514 for Banking ETF, 9,461.133 for Nasdaq, 73.6% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 5, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773Q4K2
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