Published on 12/13/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.95 million contingent income autocalls tied to four stocks
New York, Dec. 13 – Morgan Stanley Finance LLC priced $2.95 million of contingent income autocallable securities due Dec. 9, 2027 linked to the stock performance of Amazon.com, Inc., Microsoft Corp., Charles Schwab Corp. and United Parcel Service, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid monthly, if each underlying stock closes at or above its 75% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to 95% of its initial price on any monthly call determination date starting March 11, 2024.
At maturity, the payout will be par unless the worst performing stock finishes below its 75% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Amazon.com, Inc., Microsoft Corp., Charles Schwab Corp. and United Parcel Service, Inc.
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| Amount: | $2,954,000
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| Maturity: | Dec. 9, 2027
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| Coupon: | 16.5%, paid monthly, if each underlying stock closes at or above its 75% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to call threshold on any monthly call determination date starting March 11, 2024
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| Initial levels: | $144.52 for Amazon.com, $368.80 for Microsoft, $62.16 for Charles Schwab, $155.29 for United Parcel Service
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| Downside thresholds: | $108.39 for Amazon.com, $276.60 for Microsoft, $46.62 for Charles Schwab, $116.468 for United Parcel Service, 75% of initial levels
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| Call thresholds: | $137.294 for Amazon.com, $350.36 for Microsoft, $59.052 for Charles Schwab, $147.526 for United Parcel Service, 95% of initial levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61775MP42
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