Published on 5/31/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $801,000 11% contingent income autocallables linked to indexes
New York, May 31 – Morgan Stanley Finance LLC priced $801,000 of contingent income autocallable securities due July 11, 2025 linked to the Nasdaq-100 index, S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, 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 starting Oct. 13, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes 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: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $801,000
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| Maturity: | July 11, 2025
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| Coupon: | 11%, 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 closes 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 starting Oct. 13, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 12,125.69 for Nasdaq-100, 1,769.365 for Russell 2000, 3,899.38 for S&P 500
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| Downside thresholds: | 9,094.268 for Nasdaq-100, 1,327.024 for Russell 2000, 2,924.535 for S&P 500, 75% of initial level
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| Pricing date: | July 8, 2022
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| Settlement date: | July 13, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5% including a structuring fee of 0.5%
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| Cusip: | 61774DC96
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