Published on 3/29/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.75 million contingent income autocalls on three indexes
New York, March 29 – Morgan Stanley Finance LLC priced $2.75 million of contingent income autocallable securities due March 27, 2028 linked to the Russell 2000 index, the S&P 500 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid monthly, if each underlying index closes at or above its 60% 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 March 22, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 60% 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, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $2.75 million
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| Maturity: | March 27, 2028
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| Coupon: | 8.5%, paid monthly, if each underlying index closes at or above its 60% 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 March 22, 2024
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| Initial levels: | 1,727.358 for Russell 2000, 3,936.97 for S&P 500, 4,195.70 for Euro Stoxx 50
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| Downside thresholds: | 1,036.415 for Russell 2000, 2,362.182 for S&P 500, 2,517.42 for Euro Stoxx 50, 60% of initial level
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774XCL5
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