Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.05 million contingent income autocalls on three stocks
New York, April 17 – Morgan Stanley Finance LLC priced $1.05 million of contingent income autocallable securities due Oct. 17, 2024 linked to the common stocks of Valero Energy Corp., Intellia Therapeutics, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 60%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly call determination date starting July 14.
At maturity, the payout will be par unless the worst performing stock finishes 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Valero Energy Corp., Intellia Therapeutics, Inc. and Tesla, Inc.
|
| Amount: | $1,047,000
|
| Maturity: | Oct. 17, 2024
|
| Coupon: | 60%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any monthly call determination date starting July 14
|
| Initial levels: | $35.31 for Intellia Therapeutics, $186.79 for Tesla, $136.71 for Valero Energy
|
| Downside thresholds: | $24.717 for Intellia Therapeutics, $130.753 for Tesla, $95.697 for Valero Energy, 70% of initial level
|
| Pricing date: | April 11
|
| Settlement date: | April 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
|
|
| Cusip: | 61774XNY5
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
