Published on 12/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.65 million contingent market-linked autocalls on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Morgan Stanley Finance LLC priced $1.65 million of market-linked securities – autocallable with contingent downside due Dec. 6, 2027 linked to the performance of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized 10% call premium if each index closes at or above the initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,651,000
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| Maturity: | Dec. 6, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 30%, in which case 1% loss per 1% decline of worst performer from its initial level
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| Call: | At par plus an annualized 10% call premium if each index closes at or above its initial level on any quarterly observation date after one year
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| Initial levels: | 4,554.89 for S&P, 1,792.808 for Russell, 16,010.43 for Nasdaq
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| Downside thresholds: | 3,188.423 for S&P, 1,254.966 for Russell, 11,207.301 for Nasdaq; 70% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Dec. 1
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.575%
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| Cusip: | 61775MB54
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