Published on 8/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million 10.5% contingent income autocallables on indexes
By Kiku Steinfeld
Chicago, Aug. 3 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due Feb. 27, 2025 linked to 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 10.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities will be called automatically starting Feb. 22, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any monthly 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
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income autocallable securities
|
Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
Amount: | $1 million
|
Maturity: | Feb. 27, 2025
|
Coupon: | 10.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date
|
Price: | Par
|
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
|
Call: | Automatically starting Feb. 22, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
|
Initial levels: | 33,045.09 for Dow, 12,066.27 for Nasdaq, 1,894.675 for Russell
|
Downside thresholds: | 23,131.563 for Dow, 8,446.389 for Nasdaq, 1,326.273 for Russell, 70% of initial level
|
Pricing date: | Feb. 22, 2023
|
Settlement date: | Feb. 27, 2023
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.7%
|
Cusip: | 61774TJ78
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.