Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.84 million contingent income buffered autocalls on indexes, ETF
New York, Feb. 22 – Morgan Stanley Finance LLC priced $1.84 million of contingent income buffered autocallable securities due Feb. 22, 2024 linked to the Russell 2000 index, the Nasdaq-100 index and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
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 monthly call determination date starting May 18.
At maturity, the payout will be par unless any asset declines by more than 20%, in which case investors will be exposed to the decline of the worst performing asset beyond 20%.
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 buffered autocallable securities
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index and Energy Select Sector SPDR Fund
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| Amount: | $1,835,000
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| Maturity: | Feb. 22, 2024
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| Coupon: | 7.5%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if the worst performing asset finishes at or above 80% buffer level; otherwise, lose 1% for every 1% decline of the worst performing underlier beyond 20%
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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 monthly call determination date starting May 18
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| Initial levels: | 12,687.89 for Nasdaq-100, 1,960.969 for Russell 2000, $88.48 for Energy Select Sector SPDR Fund
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| Buffer: | 20%
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| Buffer level: | 10,150.312 for Nasdaq-100 index, 1,568.775 for Russell 2000 index, $70.784 for Energy Select Sector SPDR Fund, 80% of initial level
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| Coupon barriers: | 10,150.312 for Nasdaq-100 index, 1,568.775 for Russell 2000 index, $70.784 for Energy Select Sector SPDR Fund, 80% of initial levels
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.3%
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| Cusip: | 61774TYU0
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