Published on 4/21/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.14 million contingent income autocalls on three indexes
New York, April 21 – Morgan Stanley Finance LLC priced $1.14 million of contingent income autocallable securities due Jan. 17, 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 7%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to 95% of its initial level on any monthly call determination date starting July 14.
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 its 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: | $1.14 million
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| Maturity: | Jan. 17, 2025
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| Coupon: | 7%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its 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 its initial level
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to 95% of its initial level on any monthly call determination date starting July 14
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| Initial levels: | 13,079.52 for Nasdaq-100, 1,781.154 for Russell 2000, 4,137.64 for S&P 500
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| Downside thresholds: | 9,155.664 for Nasdaq-100, 1,246.808 for Russell 2000, 2,896.348 for S&P 500, 70% of initial level
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| Coupon barriers: | 9,809.64 for Nasdaq-100, 1,335.866 for Russell 2000, 3,103.23 for S&P 500, 75% of initial levels
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| Call threshold: | 12,425.544 for Nasdaq-100, 1,692.096 for Russell 2000, 3,930.758 for S&P 500, 95% of initial levels
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| Pricing date: | April 14
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| Settlement date: | April 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61774XPH0
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