Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.29 million contingent income autocallables on indexes, ETF
New York, June 26 – Morgan Stanley Finance LLC priced $1.29 million of contingent income autocallable securities due Dec. 19, 2024 linked to the Russell 2000 index, the Dow Jones industrial average and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
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 Dec. 18, 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying assets: | Russell 2000 index, Dow Jones industrial average and Technology Select Sector SPDR Fund
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| Amount: | $1.29 million
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| Maturity: | Dec. 19, 2024
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| Coupon: | 10%, paid quarterly, if each underlier 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 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
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| 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 Dec. 18, 2023
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| Initial levels: | 34,299.12 for Dow Jones industrial average, 1,875.467 for Russell 2000, $173.19 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 24,009.384 for Dow Jones industrial average, 1,312.827 for Russell 2000, $121.233 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Coupon barriers: | 25,724.34 for Dow Jones industrial average, 1,406.600 for Russell 2000, $129.893 for Technology Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61775HAJ6
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