Published on 12/28/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $558,000 7% contingent income buffered autocalls linked to index, bank ETF
New York, Dec. 29 – Morgan Stanley Finance LLC priced $558,000 of contingent income buffered autocallable securities due Sept. 25, 2024 linked to the worst performing of the 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 7%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting June 24, 2022 at par on any quarterly call determination date.
At maturity the payout will be par unless either 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: | Nasdaq-100 Index and SPDR S&P Regional Banking ETF
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| Amount: | $558,000
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| Maturity: | Sept. 25, 2024
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| Coupon: | 7% annual rate, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly 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 June 24, 2022 at par on any quarterly call determination date
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| Initial level: | $66.81 for SPDR S&P Regional Banking ETF, 15,627.64 for Nasdaq-100 Index
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| Buffer level: | $56.789 for SPDR S&P Regional Banking ETF, 13,283.494 for Nasdaq-100 Index; 85% of initial levels
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| Coupon barrier: | $53.448 for SPDR S&P Regional Banking ETF, 12,502.112 for Nasdaq-100 Index, 80% of the initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61773HMZ9
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