Published on 8/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.61 million contingent income buffered autocalls on index, ETF
New York, Aug. 11 – Morgan Stanley Finance LLC priced $2.61 million of contingent income buffered autocallable securities due Aug. 6, 2025 linked to the Russell 2000 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.5%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if each underlier closes at or above its 90% call level on any quarterly call determination date starting Feb. 6, 2024.
At maturity, the payout will be par unless any asset declines by more than 25%, in which case investors will lose 1% for each 1% decline of the worst performer beyond 25%.
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 buffered autocallable securities
|
| Underlying assets: | Russell 2000 index and SPDR S&P Biotech ETF
|
| Amount: | $2,611,000
|
| Maturity: | Aug. 6, 2025
|
| Coupon: | 5.5%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset declines by more than 25%, in which case investors will lose 1% for each 1% decline of the worst performer beyond 25%
|
| Call: | Automatically at par if each underlier closes at or above its 90% call level on any quarterly call determination date starting Feb. 6, 2024
|
| Initial levels: | 1,994.167 for Russell 2000, $83.30 for SPDR S&P Biotech ETF
|
| Buffer: | 25%
|
| Coupon barriers: | 1,495.625 for Russell 2000 index, $62.475 for SPDR S&P Biotech ETF, 75% of initial levels
|
| Call levels: | 1,794.750 for Russell 2000 index, $74.97 for SPDR S&P Biotech ETF, 90% of initial levels
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.6%
|
| Cusip: | 61775HSU2
|
|
|
|
|
© 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.
