Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 13% contingent income autocallables on index, fund
Chicago, May 22 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due July 2, 2024 linked to the worst performing of the S&P 500 index and Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Dec. 30, 2022 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 65% 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: | S&P 500 index and Energy Select Sector SPDR fund
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| Amount: | $250,000
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| Maturity: | July 2, 2024
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| Coupon: | 13% annual rate, paid quarterly, if each underlier closes at or above its 70% coupon barrier 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 Dec. 30, 2022 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: | 3,900.11 for S&P, $73.69 for fund
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| Coupon barriers: | 2,730.077 for S&P, $51.583 for fund, 70% of initial levels
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| Downside thresholds: | 2,535.072 for S&P, $47.899 for fund, 65% of initial levels
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| Pricing date: | June 27, 2022
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| Settlement date: | June 30, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61774DMG9
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