Published on 1/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.57 million contingent income autocalls on indexes, ETF
New York, Jan. 17 – Morgan Stanley Finance LLC priced $4.57 million of contingent income autocallable securities due Jan. 2, 2024 linked to the Russell 2000 index, the Dow Jones industrial average and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.35%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date.
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 quarterly call determination date.
At maturity, the payout will be par unless the worst performing asset finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, Dow Jones industrial average and SPDR S&P 500 ETF Trust
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| Amount: | $4,573,000
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| Maturity: | Jan. 2, 2024
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| Coupon: | 11.35%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | 33,241.56 for Dow Jones industrial average, 1,749.516 for Russell 2000, $381.40 for SPDR S&P 500
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| Downside thresholds: | 23,269.092 for Dow Jones industrial average, 1,224.661 for Russell 2000, $266.98 for SPDR S&P 500, 70% of initial level
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774TFD9
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