Published on 2/28/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $490,000 16% contingent income autocallables on stocks
Chicago, Feb. 28 – Morgan Stanley Finance LLC priced $490,000 of contingent income autocallable securities due Jan. 21, 2028 linked to the worst performing of the stocks of Citigroup Inc., Boeing Co., Target Corp. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting April 22 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 70% 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: | Citigroup Inc., Boeing Co., Target Corp. and Alphabet Inc.
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| Amount: | $490,000
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| Maturity: | Jan. 21, 2028
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| Coupon: | 16% annual rate, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes 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 starting April 22 at par if the price of each underlying stock is greater than or equal to its initial price on any monthly call determination date
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| Initial levels: | $203.06 for Boeing, $51.36 for Citigroup, $141.47 for Alphabet, $138.74 for Target
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| Downside thresholds: | $142.142 for Boeing, $35.952 for Citigroup, $99.029 for Alphabet, $97.118 for Target, 70% of initial level
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61771WMF2
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