Published on 6/29/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.33 million 10.25% contingent income autocalls on indexes
Chicago, June 29 – Morgan Stanley Finance LLC priced $1.33 million of contingent income autocallable securities due Sept. 6, 2024 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid monthly, if each underlying index closes at or above its 65% downside threshold on the related monthly observation date.
The securities will be called automatically starting Sept. 6 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 if the indexes never close below the 65% downside threshold level during the life of the notes or the worst performing index ends above its initial level. Otherwise, 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: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1,332,000
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| Maturity: | Sept. 6, 2024
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| Coupon: | 10.25% annual rate, paid monthly, if each underlying index closes at or above its 65% downside threshold on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par if the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
|
| Call: | Automatically starting Sept. 6 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: | 32,908.27 for Dow, 14,254.09 for Nasdaq, 1,749.650 for Russell
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| Downside thresholds: | 21,390.376 for Dow, 9,265.159 for Nasdaq, 1,137.273 for Russell, 65% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774XB77
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