Published on 9/15/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $363,000 contingent income buffered autocallables on Nasdaq, ETF
Chicago, Sept. 15 – Morgan Stanley Finance LLC priced $363,000 of contingent income buffered autocallable securities due Oct. 24, 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 6.75%, 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 starting July 26, 2022 at par on any quarterly call determination date.
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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying assets: | Nasdaq-100 index and SPDR S&P Regional Banking ETF
|
| Amount: | $363,000
|
| Maturity: | Oct. 24, 2024
|
| Coupon: | 6.75% annual rate, paid quarterly, if each underlier closes at or above its 85% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting July 26, 2022 at par on any quarterly call determination date
|
| Initial levels: | $71.61 for ETF, 14,438.40 for Nasdaq
|
| Buffer: | 15%
|
| Coupon barriers: | $60.869 for ETF, 12,272.64 for Nasdaq, 85% of initial levels
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61773HZY8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
