Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 contingent income autocallables on indexes, fund
Chicago, Aug. 14 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due Jan. 30, 2025 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, 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 starting Jan. 31, 2024 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing asset closes 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 Technology Select Sector SPDR Fund
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| Amount: | $250,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 7.75% annual rate, 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 closes 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 starting Jan. 31, 2024 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: | 35,520.12 for Dow, 1,980.355 for Russell, $176.06 for Technology
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| Downside thresholds: | 24,864.084 for Dow, 1,386.249 for Russell, $123.242 for Technology, 70% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.123%
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| Cusip: | 61775HEB9
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