Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.34 million step-down trigger autocallables on S&P, Stoxx
Chicago, March 11 – Morgan Stanley Finance LLC priced $6.34 million of 0% step-down trigger autocallable notes due March 6, 2029 linked to the lowest performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Starting after one year, the notes will be called at par plus an annualized call return of 8.95% if each index closes at or above its initial level on any quarterly observation date or at or above its 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | S&P 500 index and Euro Stoxx 50 index
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| Amount: | $6,339,710
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| Maturity: | March 6, 2029
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 44.75% if called because indexes close above 75% downside threshold; otherwise, full exposure to losses of worst performer
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| Call: | Starting after one year, at par plus annualized call return of 8.95% per year if each index closes at or above its initial level on any quarterly observation date or at or above its downside threshold on the final valuation date
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| Initial levels: | 5,137.08 for S&P, 4,894.86 for Stoxx
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| Downside thresholds: | 3,852.81 for S&P, 3,671.15 for Stoxx; 75% of initial levels
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| Trade date: | March 1
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| Settlement date: | March 6
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61776K372
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