Published on 4/4/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.23 million contingent income autocalls on indexes, ETF
New York, April 4 – Morgan Stanley Finance LLC priced $1.23 million of contingent income autocallable securities due Sept. 30, 2026 linked to the Dow Jones industrial average, the Nasdaq-100 Technology Sector index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.7%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly 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 monthly call determination date starting March 28, 2025.
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: | Dow Jones industrial average, Nasdaq-100 Technology Sector index and Technology Select Sector SPDR Fund
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| Amount: | $1,225,000
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| Maturity: | Sept. 30, 2026
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| Coupon: | 10.7%, paid monthly, if each underlier closes at or above its 80% 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 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 closing level of each underlier is greater than or equal to its initial level on any monthly call determination date starting March 28, 2025
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| Initial levels: | 39,313.64 for Dow Jones industrial average, 10,388.22 for Nasdaq-100 Technology Sector, $208.52 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 27,519.548 for Dow Jones industrial average, 7,271.754 for Nasdaq-100 Technology Sector, $145.964 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Coupon barriers: | 31,450.912 for Dow Jones industrial average, 8,310.576 for Nasdaq-100 Technology Sector, $166.816 for Technology Select Sector SPDR Fund, 80% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61776LFM4
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