Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.08 million contingent income autocallables on three indexes
New York, March 27 – Morgan Stanley Finance LLC priced $2.08 million of contingent income autocallable securities due Sept. 24, 2026 linked to the Russell 2000 index, the Nasdaq-100 Technology Sector index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
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 quarterly call determination date starting Sept. 20, 2024.
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: | Russell 2000 index, Nasdaq-100 Technology Sector index and S&P 500 index
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Amount: | $2,076,000
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Maturity: | Sept. 24, 2026
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Coupon: | 8.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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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 quarterly call determination date starting Sept. 20, 2024
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Initial levels: | 10,372.62 for Nasdaq-100 Technology Sector, 2,074.880 for Russell 2000, 5,224.62 for S&P 500
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Downside thresholds: | 7,260.834 for Nasdaq-100 Technology Sector, 1,452.416 for Russell 2000, 3,657.234 for S&P 500, 70% of initial levels
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Pricing date: | March 20
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Settlement date: | March 25
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.45%
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Cusip: | 61776LDP9
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