Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $300,000 6.25% contingent income autocallables on indexes
Chicago, May 1 – Morgan Stanley Finance LLC priced $300,000 of contingent income autocallable securities due March 11, 2027 linked to the worst performing of the Russell 2000 index, S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.25%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting June 9, 2023 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 unless the worst performing index closes below its 65% 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 Dow Jones industrial average
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| Amount: | $300,000
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| Maturity: | March 11, 2027
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| Coupon: | 6.25% annual rate, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes 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 starting June 9, 2023 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: | 32,915.78 for Dow, 1,889.885 for Russell, 4,121.43 for S&P
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| Downside thresholds: | 21,395.257 for Dow, 1,228.425 for Russell, 2,678.930 for S&P, 65% of initial levels
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| Coupon barriers: | 23,041.046 for Dow, 1,322.920 for Russell, 2,885.001 for S&P, 70% of initial levels
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| Pricing date: | June 6, 2022
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| Settlement date: | June 9, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61774DKW6
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