Published on 2/5/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $628,000 contingent income autocalls on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 6 – Morgan Stanley Finance LLC priced $628,000 of contingent income autocallable securities due Feb. 8, 2024 linked to the Russell 2000 index, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, 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. 6, 2023 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
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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 index and S&P 500 index
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| Amount: | $628,000
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| Maturity: | Feb. 8, 2024
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| Coupon: | 13.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly 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 Feb. 6, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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| Initial levels: | 10,857.03 for Nasdaq, 1,799.866 for Russell, 3,770.55 for S&P
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| Downside thresholds: | 7,599.921 for Nasdaq, 1,259.906 for Russell, 2,639.385 for S&P, 70% of initial level
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| Pricing date: | Nov. 4, 2022
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| Settlement date: | Nov. 9, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774HG85
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