Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.9 million contingent income autocallables on Russell, Nasdaq, Dow
New York, June 13 – Morgan Stanley Finance LLC priced $4.9 million of contingent income autocallable securities due June 5, 2025 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.65%, 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 at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly call determination date starting Sept. 5.
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 index and Dow Jones industrial average
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| Amount: | $4.9 million
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| Maturity: | June 5, 2025
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| Coupon: | 10.65%, 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 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 monthly call determination date starting Sept. 5
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| Initial levels: | 33,762.76 for Dow Jones industrial average, 14,546.64 for Nasdaq-100, 1,830.906 for Russell 2000
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| Downside thresholds: | 23,633.932 for Dow Jones industrial average, 10,182.648 for Nasdaq-100, 1,281.634 for Russell 2000, 70% of initial level
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774X4N0
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