Published on 12/4/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $626,000 10.85% contingent income autocallables on indexes
Chicago, Dec. 4 – Morgan Stanley Finance LLC priced $626,000 of contingent income autocallable securities due Oct. 31, 2029 linked to the worst performing of the Euro Stoxx 50 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.85%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically starting April 26, 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 75% 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: | Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $626,000
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| Maturity: | Oct. 31, 2029
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| Coupon: | 10.85% annual rate, paid quarterly, if each underlying index closes at or above its 75% downside threshold 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 April 26, 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: | 1,804.331 for Russell, 3,605.31 for Stoxx
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| Downside thresholds: | 1,353.248 for Russell, 2,703.983 for Stoxx, 75% of initial levels
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| Pricing date: | Oct. 26, 2022
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| Settlement date: | Oct. 31, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61774HVM7
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