Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $700,000 11.8% contingent income autocallables on indexes
Chicago, Oct. 2 – Morgan Stanley Finance LLC priced $700,000 of contingent income autocallable securities due March 31, 2025 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.8%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Sept. 26, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $700,000
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| Maturity: | March 31, 2025
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| Coupon: | 11.8% annual rate, paid monthly, if each underlying index closes at or above its 80% 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 index closes 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 starting Sept. 26, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date
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| Initial levels: | 29,260.81 for Dow, 11,254.11 for Nasdaq, 3,655.04 for S&P
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| Coupon barriers: | 23,408.648 for Dow, 9,003.288 for Nasdaq, 2,924.032 for S&P, 80% of initial levels
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| Downside thresholds: | 20,482.567 for Dow, 7,877.877 for Nasdaq, 2,558.528 for S&P, 70% of initial level
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| Pricing date: | Sept. 26, 2022
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| Settlement date: | Sept. 29, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774HDN5
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