Published on 12/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.61 million 9% contingent income autocalls on indexes
New York, Dec. 23 – Morgan Stanley Finance LLC priced $1.61 million of contingent income autocallable securities due March 22, 2024 linked to the Russell 2000 index, S&P 500 index and 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% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting March 20, 2023 at par if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date.
At maturity the payout will be par if the indexes never close below the 70% downside threshold level during the life of the notes or the worst performing index ends above its initial level. Otherwise 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, S&P 500 index and Nasdaq-100 index
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| Amount: | $1,609,000
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| Maturity: | March 22, 2024
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| Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting March 20, 2023 at par if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date
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| Initial levels: | 11,084.59 for Nasdaq-100, 1,738.581 for Russell 2000, 3,817.66 for S&P 500
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| Downside thresholds: | 7,759.213 for Nasdaq-100, 1,217.007 for Russell 2000, 2,672.362 for S&P 500, 70% of initial level
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| Coupon barriers: | 8,313.443 for Nasdaq-100 index, 1,303.936 for Russell 2000 index, 2,863.245 for S&P 500 index, 75% of initial levels
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| Call threshold: | 9,976.131 for Nasdaq-100 index, 1,564.723 for Russell 2000 index, 3,435.894 for S&P 500 index, 90% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61774TDC3
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