Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.69 million 16% contingent income autocallables on indexes, fund
Chicago, Oct. 12 – Morgan Stanley Finance LLC priced $1.69 million of contingent income autocallable securities due April 4, 2024 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 4, 2023 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, Nasdaq-100 index and Energy Select Sector SPDR Fund
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| Amount: | $1,688,000
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| Maturity: | April 4, 2024
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| Coupon: | 16% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting Jan. 4, 2023 at par if the level of each underlier is greater than or equal to its initial price on any quarterly call determination date
|
| Initial levels: | 11,164.78 for Nasdaq, 1,674.931 for Russell, $72.60 for Fund
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| Coupon barriers: | 7,815.346 for Nasdaq, 1,172.452 for Russell, $50.82 for Fund, 70% of initial levels
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| Downside thresholds: | 6,698.868 for Nasdaq, 1,004.959 for Russell, $43.56 for Fund, 60% of initial levels
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| Pricing date: | Sept. 29, 2022
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| Settlement date: | Oct. 4, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61774HGM4
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