Published on 10/5/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million contingent income autocallables tied to three stocks
New York, Oct. 5 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due Oct. 2, 2026 linked to the common stocks of Marvell Technology, Inc., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.65%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if each stock closes at or above its initial level on any monthly call determination date starting April 2, 2024.
At maturity, the payout will be par unless the worst performing stock finishes below its 60% downside threshold level, 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Marvell Technology, Inc., Target Corp. and Walmart Inc.
|
| Amount: | $1 million
|
| Maturity: | Oct. 2, 2026
|
| Coupon: | 18.65%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par if each stock closes at or above its initial level on any monthly call determination date starting April 2, 2024
|
| Initial levels: | $54.13 for Marvell Technology, $110.57 for Target, $159.93 for Walmart
|
| Downside thresholds: | $32.478 for Marvell Technology, $66.342 for Target, $95.958 for Walmart, 60% of initial levels
|
| Strike date: | Sept. 29
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61775MGL4
|
|
|
|
|
© 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.
