Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.88 million 7.8% contingent income autocalls on Russell, Nasdaq, S&P
New York, Aug. 29 – Morgan Stanley Finance LLC priced $2.88 million of contingent income autocallable securities due May 27, 2025 linked to the Russell 2000 index, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.8%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting Feb. 21, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $2,877,000
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| Maturity: | May 27, 2025
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| Coupon: | 7.8%, paid monthly, if each underlying index closes at or above its 70% 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 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 Feb. 21, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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| Initial levels: | 14,936.69 for Nasdaq-100, 1,856.014 for Russell 2000, 4,399.77 for S&P 500
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| Downside thresholds: | 10,455.683 for Nasdaq-100, 1,299.210 for Russell 2000, 3,079.839 for S&P 500, 70% of initial level
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.15%
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| Cusip: | 61775HB55
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