Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $710,000 4.15% contingent income buffered autocallables on indexes
Chicago, Aug. 16 – Morgan Stanley Finance LLC priced $710,000 of contingent income buffered autocallable securities due Oct. 24, 2023 linked to the worst performing of the Russell 2000 index, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 4.15%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Oct. 19, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date.
At maturity the payout will be par unless each index declines by more than its 40% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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 buffered autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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| Amount: | $710,000
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| Maturity: | Oct. 24, 2023
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| Coupon: | 4.15% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if the worst performing index gains or loses no more than its 40% buffer, otherwise investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically starting Oct. 19, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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| Initial levels: | 12,249.42 for Nasdaq, 1,799.324 for Russell, 3,936.69 for S&P
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| Buffer level: | 7,349.652 for Nasdaq, 1,079.594 for Russell, 2,362.014 for S&P, 60% of initial levels
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| Coupon barriers: | 8,574.594 for Nasdaq, 1,259.527 for Russell, 2,755.683 for S&P, 70% of initial levels
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| Buffer: | 40%
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| Pricing date: | July 19, 2022
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| Settlement date: | July 22, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774DE52
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