Published on 12/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.55 million contingent income autocallables on three indexes
New York, Dec. 18 – Morgan Stanley Finance LLC priced $1.55 million of contingent income autocallable securities due June 18, 2025 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid quarterly, if each underlying index 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 underlying index is greater than or equal to 98% of its initial level on any quarterly call determination date starting March 13, 2024.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% downside threshold on any trading day during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income autocallable securities
|
Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
|
Amount: | $1,553,000
|
Maturity: | June 18, 2025
|
Coupon: | 7%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless any index closes below its 70% downside threshold on any trading day during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
|
Call: | Automatically at par if the closing level of each underlying index is greater than or equal to 98% of its initial level on any quarterly call determination date starting March 13, 2024
|
Initial levels: | 37,090.24 for Dow Jones industrial average, 16,562.37 for Nasdaq-100, 1,947.505 for Russell 2000
|
Downside thresholds: | 25,963.168 for Dow Jones industrial average, 11,593.659 for Nasdaq-100, 1,363.254 for Russell 2000, 70% of initial level
|
Coupon barriers: | 27,817.68 for Dow Jones industrial average, 12,421.778 for Nasdaq-100, 1,460.629 for Russell 2000, 75% of initial levels
|
Call threshold: | 36,348.435 for Dow Jones industrial average, 16,231.123 for Nasdaq-100, 1,908.555 for Russell 2000, 98% of initial levels
|
Pricing date: | Dec. 13
|
Settlement date: | Dec. 18
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 1.875%
|
Cusip: | 61775MS64
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.