Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.31 million contingent market-linked autocalls on three indexes
By William Gullotti
Buffalo, N.Y., Jan. 8 – Morgan Stanley Finance LLC priced $3.31 million of market-linked securities – autocallable with contingent downside due Dec. 31, 2027 linked to the performance of the S&P 500 index, the Russell 2000 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.
The notes will be called at par plus an annualized 12.4% call premium if each index closes at or above the initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $3,307,000
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| Maturity: | Dec. 31, 2027
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 30%, in which case 1% loss per 1% decline of worst performer from its initial level
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| Call: | At par plus an annualized 12.4% call premium if each index closes at or above its initial level on any quarterly observation date after one year
|
| Initial levels: | 4,783.35 for S&P, 2,058.335 for Russell, 4,514.38 for Stoxx
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| Downside thresholds: | 3,348.345 for S&P, 1,440.8345 for Russell, 3,160.066 for Stoxx; 70% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.575%
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| Cusip: | 61771WDK1
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