Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.1 million contingent income autocallables on S&P, Stoxx
New York, Jan. 2 – Morgan Stanley Finance LLC priced $2.1 million of contingent income autocallable securities due Dec. 24, 2026 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlying index closes at or above its 77.5% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting June 21, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 77.5% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing index.
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: | S&P 500 index and Euro Stoxx 50 index
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| Amount: | $2.1 million
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| Maturity: | Dec. 24, 2026
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| Coupon: | 8%, paid quarterly, if each underlying index closes at or above its 77.5% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting June 21, 2024
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| Initial levels: | 4,746.75 for S&P 500, 4,524.86 for Euro Stoxx 50
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| Downside thresholds: | 3,678.731 for S&P 500, 3,506.767 for Euro Stoxx 50, 77.5% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61775MW51
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