Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.63 million contingent income autocallables on four stocks
New York, April 19 – Morgan Stanley Finance LLC priced $3.63 million of contingent income autocallable securities due March 31, 2028 linked to the stock performance of Apple Inc., NIKE, Inc., Citigroup Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.75%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to 95% of its initial price on any monthly call determination date starting July 3.
At maturity, the payout will be par unless the worst performing stock finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Apple Inc., NIKE, Inc., Citigroup Inc. and Uber Technologies, Inc.
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| Amount: | $3,627,000
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| Maturity: | March 31, 2028
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| Coupon: | 17.75%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to 95% of its initial price on any monthly call determination date starting July 3
|
| Initial levels: | $171.48 for Apple, $63.24 for Citigroup, $93.98 for NIKE, $76.99 for Uber Technologies
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| Downside thresholds: | $120.036 for Apple, $44.268 for Citigroup, $65.786 for NIKE, $53.893 for Uber Technologies, 70% of initial levels
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| Call thresholds: | $162.906 for Apple, $60.078 for Citigroup, $89.281 for NIKE, $73.141 for Uber Technologies, 95% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61776LCW5
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