Published on 11/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million market-linked contingent income autocalls on indexes
By William Gullotti
Buffalo, N.Y., Nov. 14 – Morgan Stanley Finance LLC priced $1 million of market-linked contingent income autocallable notes due Nov. 13, 2028 linked to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at a rate of 7% per year if each index closes at or above its coupon barrier, 80% of initial level, on the corresponding observation date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly valuation date starting Aug. 9, 2028.
The payout at maturity will be par plus any final coupon otherwise due.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Issue: | Market-linked contingent income autocallable notes
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| Guarantor: | Morgan Stanley
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $1 million
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| Maturity: | Nov. 13, 2028
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| Coupon: | 7% per year, paid monthly if each index closes at or above its 80% coupon barrier on the relevant review date
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon otherwise due
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| Call: | Automatically at par plus the coupon if each index closes at or above its initial level on any monthly valuation date starting Aug. 9, 2028
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| Initial levels: | 15,313.24 for Nasdaq, 4,382.78 for S&P, 1,714.068 for Russell
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| Coupon barriers: | 12,250.592 for Nasdaq, 3,506.224 for S&P, 1,371.254 for Russell; 80% of initial levels
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61775MWQ5
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