Published on 3/9/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $520,000 10.93% contingent income autocalls on Stoxx, Nasdaq
By Kiku Steinfeld
Chicago, March 9 – Morgan Stanley Finance LLC priced $520,000 of contingent income autocallable securities due Nov. 28, 2029 linked to the Euro Stoxx 50 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.93%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically starting May 23, 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 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: | Euro Stoxx 50 index and Nasdaq-100 index
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Amount: | $520,000
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Maturity: | Nov. 28, 2029
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Coupon: | 10.93%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date
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Price: | Par
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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
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Call: | Automatically starting May 23, 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
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Initial levels: | 11,838.71 for Nasdaq, 3,946.44 for Stoxx
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Downside thresholds: | 8,879.033 for Nasdaq, 2,959.83 for Stoxx, 75% of initial level
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Pricing date: | Nov. 23, 2022
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Settlement date: | Nov. 29, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61774HG69
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