Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $253,000 10.35% contingent income autocallables on indexes
Chicago, Dec. 11 – Morgan Stanley Finance LLC priced $253,000 of contingent income autocallable securities due May 7, 2026 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.35%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Nov. 3, 2023 at par if the level of each underlying index 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 index closes below its 60% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
|
| Amount: | $253,000
|
| Maturity: | May 7, 2026
|
| Coupon: | 10.35% annual rate, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Nov. 3, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
|
| Initial levels: | 33,414.24 for Dow, 13,030.21 for Nasdaq, 1,739.284 for Russell
|
| Coupon barriers: | 26,731.392 for Dow, 10,424.168 for Nasdaq, 1,391.427 for Russell, 80% of initial levels
|
| Downside thresholds: | 20,048.544 for Dow, 7,818.126 for Nasdaq, 1,043.570 for Russell, 60% of initial levels
|
| Pricing date: | May 3, 2023
|
| Settlement date: | May 8, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61774XZC0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
