Published on 5/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $309,000 contingent income buffered autocallables on index, ETF
New York, May 23 – Morgan Stanley Finance LLC priced $309,000 of contingent income buffered autocallable securities due Oct. 29, 2026 linked to the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.25%, paid quarterly, if each underlier closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par, starting Nov. 1 on any annual call determination date, if each underlying asset closes at or above its initial level.
At maturity, the payout will be par unless any 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: | S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $309,000
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| Maturity: | Oct. 29, 2026
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| Coupon: | 6.25%, paid quarterly, if each underlier closes at or above its 85% 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 finishes at or above the 85% buffer, otherwise investors will be exposed to the decline in the worst performing underlier beyond the buffer
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| Call: | Automatically at par if each asset closes at or above its initial level, starting Nov. 1 on any annual call determination date
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| Initial levels: | $72.43 for SPDR S&P Regional Banking ETF, 4,574.79 for S&P 500
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| Buffer: | 15%
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| Coupon barrier: | $61.566 for SPDR S&P Regional Banking ETF, 3,888.572 for S&P 500 index, 85% of the initial levels
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61773F7R8
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