Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.71 million contingent income autocallables tied to three stocks
New York, Oct. 12 – Morgan Stanley Finance LLC priced $5.71 million of contingent income autocallable securities due Oct. 9, 2026 linked to the stock performance of Charles Schwab Corp., NIKE, Inc. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22%, paid monthly, if each underlying stock closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date starting Oct. 10, 2024.
At maturity, the payout will be par unless the worst performing stock finishes below its 50% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Charles Schwab Corp., NIKE, Inc. class B and Walgreens Boots Alliance, Inc.
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| Amount: | $5,714,000
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| Maturity: | Oct. 9, 2026
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| Coupon: | 22%, paid monthly, if each underlying stock closes at or above its 65% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par if the closing price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date starting Oct. 10, 2024
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| Initial levels: | $97.11 for NIKE, $51.52 for Charles Schwab, $21.81 for Walgreens Boots Alliance
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| Downside thresholds: | $48.555 for NIKE, $25.76 for Charles Schwab, $10.905 for Walgreens Boots Alliance, 50% of initial level
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| Coupon barriers: | $63.122 for NIKE, $33.488 for Charles Schwab, $14.177 for Walgreens Boots Alliance, 65% of initial levels
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61775MBM7
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