Published on 8/23/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.7 million contingent market-linked autocalls on three indexes
By William Gullotti
Buffalo, N.Y., Aug. 23 – Morgan Stanley Finance LLC priced $2.7 million of market-linked securities – autocallable with contingent downside due Aug. 21, 2026 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized 12.92% call premium if each index closes at or above the initial level on any annual valuation date.
The payout at maturity will be par unless any index finishes below its 75% downside threshold, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2,697,000
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| Maturity: | Aug. 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 25%, in which case 1% loss per 1% decline of worst performer from its initial level
|
| Call: | At par plus an annualized 12.92% call premium if each index closes at or above its initial level on any annual valuation date
|
| Initial levels: | 34,765.74 for Dow, 1,871.519 for Russell, 14,876.47 for Nasdaq
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| Downside thresholds: | 26,074.305 for Dow, 1,403.63925 for Russell, 11,157.3525 for Nasdaq; 75% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.575%
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| Cusip: | 61775HA80
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