Published on 4/5/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.85 million market-linked contingent income autocalls on stocks
By William Gullotti
Buffalo, N.Y., April 5 – Morgan Stanley Finance LLC priced $2.85 million of market-linked contingent income autocallable notes due March 30, 2028 linked to the stock performance of Amazon.com, Inc., Advanced Micro Devices, Inc. and Wells Fargo & Co., 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 9% per year if each stock closes at or above its coupon barrier, 80% of initial level, on the corresponding observation date. If any stock closes below its coupon barrier level on the observation date, investors will instead receive a coupon equivalent to 0.25% per year.
The notes will be automatically called at par plus the higher coupon if each stock closes at or above its initial level on any monthly valuation date after one year.
The payout at maturity will be par plus the relevant coupon.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Issue: | Market-linked contingent income autocallable notes
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| Guarantor: | Morgan Stanley
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| Underlying stocks: | Amazon.com, Inc., Advanced Micro Devices, Inc., Wells Fargo & Co.
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| Amount: | $2,846,000
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| Maturity: | March 30, 2028
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| Coupon: | 9% per year, paid monthly if each stock closes at or above its 80% coupon barrier on the relevant review date; if any stock closes below its coupon barrier on the review date, the coupon will be paid at a rate of 0.25% per year
|
| Price: | Par
|
| Payout at maturity: | Par plus the relevant coupon
|
| Call: | Automatically at par plus the higher coupon if each stock closes at or above its initial level on any monthly valuation date after one year
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| Initial levels: | $98.04 for Amazon, $96.61 for AMD, $37.47 for Wells Fargo
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| Coupon barriers: | $78.432 for Amazon, $77.288 for AMD, $29.976 for Wells Fargo; 80% of initial levels
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| Pricing date: | March 27
|
| Settlement date: | March 30
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 61774T8E5
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