Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $750,000 16.5% contingent income autocallables on Micron, Nvidia
Chicago, April 22 – Morgan Stanley Finance LLC priced $750,000 of contingent income autocallable securities due Jan. 29, 2027 linked to the worst performing of the common stocks of Micron Technology, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting July 29, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 50% 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: | Micron Technology, Inc. and Nvidia Corp.
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| Amount: | $750,000
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| Maturity: | Jan. 29, 2027
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| Coupon: | 16.5% annual rate, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date
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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 July 29, 2024 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $87.53 for Micron, $598.73 for Nvidia
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| Coupon barriers: | $52.518 for Micron, Inc., $359.238 for Nvidia Corp., 60% of initial levels
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| Downside thresholds: | $43.765 for Micron, $299.365 for Nvidia, 50% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771WSX7
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