Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 contingent income buffered autocallables on index, ETF
Chicago, Oct. 25 – Morgan Stanley Finance LLC priced $250,000 of contingent income buffered autocallable securities due Feb. 26, 2027 linked to the worst performing of the Dow Jones industrial average and VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly, if each underlier closes at or above its 85% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Feb. 28, 2023 at par on any quarterly call determination date if both assets close above their initial levels.
At maturity the payout will be par unless each asset declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing asset 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 assets: | Dow Jones industrial average and VanEck Vectors Gold Miners ETF
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| Amount: | $250,000
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| Maturity: | Feb. 26, 2027
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| Coupon: | 9.5% annual rate, paid monthly, if each underlier closes at or above its 85% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the worst performing asset gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing underlier beyond the buffer
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| Call: | Automatically starting Feb. 28, 2023 at par on any quarterly call determination date if both assets close above their initial levels
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| Initial levels: | $34.74 for Gold Miners ETF, 33,131.76 for Dow
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| Buffer: | 15%
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| Coupon barriers: | $29.529 for Gold Miners ETF, 28,161.996 for Dow, 85% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 61773HY45
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