Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.61 million contingent income autocallables on three indexes
New York, April 22 – Morgan Stanley Finance LLC priced $1.61 million of contingent income autocallable securities due Oct. 16, 2025 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75%, 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 96.75% of its initial level on any quarterly call determination date.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% downside threshold 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
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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| Amount: | $1,612,000
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| Maturity: | Oct. 16, 2025
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| Coupon: | 6.75%, paid quarterly, if each underlying index 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 any index closes below its 70% downside threshold 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
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to 96.75% of its initial level on any quarterly call determination date
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| Initial levels: | 18,011.65 for Nasdaq-100, 2,028.389 for Russell 2000, 5,160.64 for S&P 500
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| Downside thresholds: | 12,608.155 for Nasdaq-100, 1,419.872 for Russell 2000, 3,612.448 for S&P 500, 70% of initial level
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| Coupon barriers: | 13,508.738 for Nasdaq-100, 1,521.292 for Russell 2000, 3,870.48 for S&P 500, 75% of initial levels
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| Call threshold: | 17,426.271 for Nasdaq-100, 1,962.466 for Russell 2000, 4,992.919 for S&P 500, 96.75% of initial levels
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| Pricing date: | April 10
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| Settlement date: | April 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61776LTB3
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