Published on 1/30/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.45 million contingent income autocallables on indexes, ETF
New York, Jan. 30 – Morgan Stanley Finance LLC priced $3.45 million of contingent income autocallable securities due Jan. 29, 2026 linked to the Russell 2000 index, the S&P 500 index and the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.85%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date starting July 28, 2023.
At maturity, the payout will be par unless the worst performing asset finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying assets: | Russell 2000 index, S&P 500 index and VanEck Vectors Oil Services ETF
|
| Amount: | $3.45 million
|
| Maturity: | Jan. 29, 2026
|
| Coupon: | 12.85%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
|
| Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date starting July 28, 2023
|
| Initial levels: | $324.85 for VanEck Vectors Oil Services ETF, 1,890.319 for Russell 2000, 4,016.22 for S&P 500
|
| Downside thresholds: | $227.395 for VanEck Vectors Oil Services ETF, 1,323.223 for Russell 2000, 2,811.354 for S&P 500, 70% of initial level
|
| Strike date: | Jan. 25
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
|
|
| Cusip: | 61774TUM2
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
