Published on 1/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.42 million contingent income autocallables on S&P, Russell
New York, Jan. 17 – Morgan Stanley Finance LLC priced $2.42 million of contingent income autocallable securities due July 16, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly call determination date starting April 11.
At maturity, the payout will be par unless the worst performing index finishes 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: | S&P 500 index and Russell 2000 index
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Amount: | $2.42 million
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Maturity: | July 16, 2024
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Coupon: | 10%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the worst performing index finishes 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 at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly call determination date starting April 11
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Initial levels: | 1,844.051 for Russell 2000, 3,969.61 for S&P 500
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Downside thresholds: | 1,290.836 for Russell 2000, 2,778.727 for S&P 500, 70% of initial level
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Coupon barriers: | 1,475.241 for Russell 2000, 3,175.688 for S&P 500, 80% of initial levels
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Pricing date: | Jan. 11
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Settlement date: | Jan. 17
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61774TNT5
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