Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.75 million contingent income autocalls tied to three tech stocks
New York, March 26 – Morgan Stanley Finance LLC priced $1.75 million of contingent income autocallable securities due June 26, 2025 linked to the stock performance of Meta Platforms, Inc., Nvidia Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 30%, paid monthly, if each underlying stock closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly call determination date starting June 26.
At maturity, the payout will be par unless the worst performing stock finishes below its 55% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Meta Platforms, Inc., Nvidia Corp. and Tesla, Inc.
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| Amount: | $1,752,000
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| Maturity: | June 26, 2025
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| Coupon: | 30%, paid monthly, if each underlying stock closes at or above its 65% coupon barrier on the related monthly observation date
|
| Price: | Par
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| 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
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| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly call determination date starting June 26
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| Initial levels: | $507.76 for Meta Platforms, $914.35 for Nvidia, $172.82 for Tesla
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| Downside thresholds: | $279.268 for Meta Platforms, $502.893 for Nvidia, $95.051 for Tesla, 55% of initial levels
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| Coupon barriers: | $330.044 for Meta Platforms, $594.328 for Nvidia, $112.333 for Tesla, 65% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61776LBV8
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