Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 15.5% contingent income autocalls on indexes
Chicago, May 18 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due June 30, 2023 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.5%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Sept. 29, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
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 indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | June 30, 2023
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| Coupon: | 15.5% annual rate, paid monthly, if each underlying index closes at or above its 75% 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 index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting Sept. 29, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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| Initial levels: | 31,500.68 for Dow, 12,105.85 for Nasdaq, 1,765.737 for Russell
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| Coupon barriers: | 23,625.51 for Dow, 9,079.388 for Nasdaq, 1,324.303 for Russell, 75% of initial levels
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| Downside thresholds: | 22,050.476 for Dow, 8,474.095 for Nasdaq, 1,236.016 for Russell, 70% of initial levels
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| Pricing date: | June 24, 2022
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| Settlement date: | June 29, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774DTC1
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