Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.27 million contingent income autocallables on two indexes, ETF
New York, April 19 – Morgan Stanley Finance LLC priced $1.27 million of contingent income autocallable securities due April 15, 2027 linked to the Nasdaq-100 Technology Sector index, 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 10%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date starting Oct. 17, 2024.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Nasdaq-100 Technology Sector index, S&P 500 index and SPDR S&P Regional Banking ETF
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Amount: | $1.27 million
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Maturity: | April 15, 2027
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Coupon: | 10%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date starting Oct. 17, 2024
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Initial levels: | $46.94 for SPDR S&P Regional Banking ETF, 10,419.72 for Nasdaq-100 Technology Sector, 5,199.06 for S&P 500
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Downside thresholds: | $28.164 for SPDR S&P Regional Banking ETF, 6,251.832 for Nasdaq-100 Technology Sector, 3,119.436 for S&P 500, 60% of initial levels
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Pricing date: | April 11
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61776LTQ0
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