Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $592,000 11.75% contingent income autocallables on indexes
Chicago, May 17 – Morgan Stanley Finance LLC priced $592,000 of contingent income autocallable securities due June 26, 2025 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting June 27, 2023 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 70% 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: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $592,000
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Maturity: | June 26, 2025
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Coupon: | 11.75% annual rate, paid quarterly, if each underlying index closes at or above its 75% 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 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 June 27, 2023 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: | 30,483.13 for Dow, 11,527.71 for Nasdaq, 1,690.277 for Russell
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Downside thresholds: | 21,338.191 for Dow, 8,069.397 for Nasdaq, 1,183.194 for Russell, 70% of initial levels
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Coupon barriers: | 22,862.348 for Dow, 8,645.783 for Nasdaq index, 1,267.708 for Russell index, 75% of initial levels
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Pricing date: | June 22, 2022
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Settlement date: | June 27, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61774DSL2
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