Published on 6/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.88 million contingent income autocalls on three stocks
New York, June 6 – Morgan Stanley Finance LLC priced $4.88 million of contingent income autocallable securities due March 5, 2024 linked to the stock performance of Mastercard Inc., Procter & Gamble Co., Eli Lilly & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid monthly, if each underlying stock closes at or above its 70% 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 Sept. 5.
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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Mastercard Inc, Procter & Gamble Co., Eli Lilly and Co.
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| Amount: | $4,881,000
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| Maturity: | March 5, 2024
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| Coupon: | 11.25%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
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| 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 Sept. 5
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| Initial levels: | $427.24 for Eli Lilly, $367.50 for Mastercard, $143.18 for Procter & Gamble
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| Downside thresholds: | $256.344 for Eli Lilly, $220.50 for Mastercard, $85.908 for Procter & Gamble, 60% of initial levels
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| Coupon barriers: | $299.068 for Eli Lilly, $257.25 for Mastercard, $100.226 for Procter & Gamble, 70% of initial levels
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| Pricing date: | May 30
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| Settlement date: | June 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774XZ22
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