Published on 3/1/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.69 million 9% contingent income autocalls on indexes
New York, March 1 – Morgan Stanley Finance LLC priced $1.69 million of contingent income autocallable securities due March 3, 2026 linked to the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Aug. 26, 2024 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: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,685,000
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| Maturity: | March 3, 2026
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| Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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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 Aug. 26, 2024 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: | 39,069.23 for Dow Jones industrial average, 17,933.33 for Nasdaq-100, 2,028.968 for Russell 2000
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| Downside thresholds: | 29,301.923 for Dow Jones industrial average, 13,449.998 for Nasdaq-100, 1,521.726 for Russell 2000, 75% of initial level
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61771WU97
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