Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $814,000 31% contingent income autocallables on fuboTV, Upstart
New York, May 18 – Morgan Stanley Finance LLC priced $814,000 of contingent income autocallable securities due Oct. 30, 2025 linked to fuboTV Inc. and Upstart Holdings, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 31%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically starting April 28, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | fuboTV Inc. and Upstart Holdings, Inc.
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| Amount: | $814,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 31%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call: | Automatically starting April 28, 2022 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $30.09 for fuboTV, $359.81 for Upstart Holdings
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| Downside thresholds: | $15.045 for fuboTV, $179.905 for Upstart Holdings, 50% of initial levels
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| Coupon barrier: | $18.054 for fuboTV Inc., $215.886 for Upstart Holdings, Inc., 60% of the initial levels
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| Pricing date: | Oct. 25, 2021
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| Settlement date: | Oct. 28, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61773F6T5
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