Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.3 million contingent income autocallables on three indexes
New York, March 27 – Morgan Stanley Finance LLC priced $3.30 million of contingent income autocallable securities due March 25, 2026 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.2%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting Sept. 20, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 75% 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: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $3,297,000
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| Maturity: | March 25, 2026
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| Coupon: | 9.2%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes 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 at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting Sept. 20, 2024
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| Initial levels: | 39,512.13 for Dow Jones industrial average, 18,240.11 for Nasdaq-100, 2,074.880 for Russell 2000
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| Downside thresholds: | 29,634.098 for Dow Jones industrial average, 13,680.083 for Nasdaq-100, 1,556.160 for Russell 2000, 75% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61776LGB7
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