Published on 4/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.32 million contingent income autocallables on Stoxx, Nasdaq
New York, April 6 – Morgan Stanley Finance LLC priced $1.32 million of contingent income autocallable securities due March 31, 2028 linked to the Euro Stoxx 50 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 75% 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. 28, 2023.
At maturity, the payout will be par unless the worst performing index finishes below its 75% 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: | Euro Stoxx 50 index and Nasdaq-100 index
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Amount: | $1,322,000
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Maturity: | March 31, 2028
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Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 75% 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. 28, 2023
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Initial levels: | 12,610.57 for Nasdaq-100, 4,168.21 for Euro Stoxx 50
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Downside thresholds: | 9,457.928 for Nasdaq-100, 3,126.158 for Euro Stoxx 50, 75% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61774T8B1
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