Published on 1/4/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $557,000 14.5% contingent income autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Jan. 4 – Morgan Stanley Finance LLC priced $557,000 of contingent income autocallable securities due Oct. 29, 2024 linked to the S&P 500 index, Nasdaq-100 index and Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 27, 2023 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying assets: | S&P 500 index, Nasdaq-100 index and Energy Select Sector SPDR Fund
|
| Amount: | $557,000
|
| Maturity: | Oct. 29, 2024
|
| Coupon: | 14.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
|
| Call: | Automatically starting July 27, 2023 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date
|
| Initial levels: | 12,969.76 for Nasdaq, 4,137.04 for S&P, $86.28 for Energy Select Sector SPDR Fund
|
| Downside thresholds: | 7,781.856 for Nasdaq, 2,482.224 for S&P, $51.768 for Energy Select Sector SPDR Fund, 60% of initial level
|
| Coupon barriers: | 9,078.832 for Nasdaq index, 2,895.928 for S&P, $60.396 for Energy Select Sector SPDR Fund, 70% of initial levels
|
| Pricing date: | April 24, 2023
|
| Settlement date: | April 27, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 61774XRX3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
