Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $645,000 6.75% contingent income autocallables on indexes
Chicago, April 19 – Morgan Stanley Finance LLC priced $645,000 of contingent income autocallable securities due July 25, 2025 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting April 22 at par if the level of each underlying index is greater than or equal to 97.5% of its initial level on any quarterly call determination date.
At maturity the payout will be par if the indexes never close below the 70% downside threshold level during the life of the notes or the worst performing index ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing index.
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 autocallable securities
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
|
| Amount: | $645,000
|
| Maturity: | July 25, 2025
|
| Coupon: | 6.75% annual rate, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
|
| Call: | Automatically starting April 22 at par if the level of each underlying index is greater than or equal to 97.5% of its initial level on any quarterly call determination date
|
| Initial levels: | 38,001.81 for Dow, 17,330.38 for Nasdaq, 1,983.381 for Russell
|
| Coupon barriers: | 28,501.358 for Dow, 12,997.785 for Nasdaq, 1,487.536 for Russell, 75% of initial levels
|
| Downside thresholds: | 26,601.267 for Dow, 12,131.266 for Nasdaq, 1,388.367 for Russell, 70% of initial level
|
| Call thresholds: | 37,051.765 for Dow, 16,897.121 for Nasdaq, 1,933.796 for Russell, 97.50% of initial levels
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.875%
|
| Cusip: | 61771WMY1
|
|
|
© 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.
