Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.13 million 7.6% contingent income autocallables on Russell, S&P
New York, Feb. 7 – Morgan Stanley Finance LLC priced $2.13 million of contingent income autocallable securities due Feb. 8, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.6%, payable quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities will be called automatically starting May 2 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 if the indexes never close below the 60% 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 and S&P 500 index
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Amount: | $2,131,000
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Maturity: | Feb. 8, 2024
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Coupon: | 7.6%, paid quarterly, if each underlying index closes at or above its 60% downside threshold 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 May 2 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: | 2,001.221 for Russell 2000, 4,179.76 for S&P 500
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Downside thresholds: | 1,200.733 for Russell 2000, 2,507.856 for S&P 500, 60% of initial level
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Pricing date: | Feb. 2
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Settlement date: | Feb. 7
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.375%
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Cusip: | 61774TXM9
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