Published on 10/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.09 million autocallable jump securities on tech stocks
Chicago, Oct. 11 – Morgan Stanley Finance LLC priced $3.09 million of jump securities with autocallable feature due Sept. 26, 2028 linked to the worst performing of the common stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc (class C) and Microsoft Corp. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Sept. 24, 2024 at a price to give a return of 21.65% per year if the price of each underlying stock is greater than or equal to its initial price and on any subsequent annual determination date.
At maturity the payout will be par plus 108.25% if the worst performing underlier finishes above its initial level.
The payout will be par if the worst performing stock declines but finishes above its 50% trigger level and investors will be fully exposed to the decline of the worst performing stock if it finishes below its 50% trigger level.
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: | Jump securities with autocallable feature
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| Underlying stocks: | Apple Inc. (Ticker: AAPL), Amazon.com, Inc. (Ticker: AMZN), Alphabet Inc (Ticker: GOOG) and Microsoft Corp. (Ticker: MSFT)
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| Amount: | $3.09 million
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| Maturity: | Sept. 26, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 108.25% if worst performing stock finishes above its initial level; par if worst performing stock declines but finishes above its 50% trigger level; otherwise, full exposure to decline of worst performing stock
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| Call: | Automatically starting Sept. 24, 2024 at a price to give a return of 21.65% per year if the price of each underlying stock is greater than or equal to its initial price and on any subsequent annual determination date
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| Initial levels: | $173.93 for Apple, $129.33 for Amazon, $131.36 for Alphabet, $319.53 for Microsoft
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| Downside thresholds: | $86.965 for Apple, $64.665 for Amazon, $65.68 for Alphabet, $159.765 for Microsoft, 50% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61775H6A0
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