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Published on 9/1/2023 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $5.64 million contingent income buffered autocalls on two indexes

New York, Sept. 1 – Morgan Stanley Finance LLC priced $5.64 million of contingent income buffered autocallable securities due Sept. 4, 2025 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 5.5%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.

The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to 91% of its initial level on any quarterly call determination date starting Feb. 29, 2024.

At maturity, the payout will be par unless either index declines by more than 20%, in which case investors will be exposed to the decline of the worst performing index beyond 20%.

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 buffered autocallable securities
Underlying indexes:Nasdaq-100 index and Russell 2000 index
Amount:$5,641,000
Maturity:Sept. 4, 2025
Coupon:5.5%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date
Price:Par
Payout at maturity:Par if the worst performing index finishes at or above buffer level; otherwise, 1% loss for every 1% decline of worst performing index beyond 20%
Call:Automatically starting Feb. 29, 2024 at par if the level of each underlying index is greater than or equal to 91% of its initial level on any quarterly call determination date
Initial levels:15,376.55 for Nasdaq-100, 1,895.538 for Russell 2000
Buffer:20%
Buffer level:12,301.24 for Nasdaq-100 index, 1,516.430 for Russell 2000 index, 80% of initial levels
Coupon barriers:12,301.24 for Nasdaq-100 index, 1,516.430 for Russell 2000 index, 80% of initial levels
Call threshold:13,992.661 for Nasdaq-100 index, 1,724.940 for Russell 2000 index, 91% of initial levels
Pricing date:Aug. 29
Settlement date:Aug. 31
Agent:Morgan Stanley & Co. LLC
Fees:2.7%
Cusip:61775HL47

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