Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.65 million contingent income buffered autocalls on index, ETF
New York, May 15 – Morgan Stanley Finance LLC priced $1.65 million of contingent income buffered autocallable securities due Nov. 14, 2024 linked to the Dow Jones industrial average and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.5%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if each asset closes at or above its initial level on any quarterly call determination date starting Nov. 15, 2023.
At maturity, the payout will be par unless any asset declines by more than 25%, in which case investors will be exposed to the decline of the worst performing asset beyond 25%.
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 buffered autocallable securities
|
| Underlying assets: | Dow Jones industrial average and SPDR S&P 500 ETF Trust
|
| Amount: | $1,645,000
|
| Maturity: | Nov. 14, 2024
|
| Coupon: | 6.5%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the worst performing asset finishes at or above 75% of initial level; otherwise, 1% loss for each 1% decline of worst performer beyond 25%
|
| Call: | Automatically at par if each asset closes at or above its initial level on any quarterly call determination date starting Nov. 15, 2023
|
| Initial levels: | 33,531.33 for Dow Jones industrial average, $412.85 for SPDR S&P 500
|
| Buffer: | 25%
|
| Coupon barriers: | 25,148.498 for Dow Jones industrial average, $309.638 for SPDR S&P 500 ETF Trust, 75% of initial levels
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
|
|
| Cusip: | 61774XF57
|
|
|
|
|
© 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.
