Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $637,000 12.65% contingent income autocallables on indexes
Chicago, Oct. 18 – Morgan Stanley Finance LLC priced $637,000 of contingent income autocallable securities due April 22, 2024 linked to the worst performing of the Russell 2000 index, S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.65%, paid monthly, if each underlying index closes at or above its 70% coupon threshold on the related monthly observation date.
The securities will be called automatically starting Jan. 17, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call 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: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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| Amount: | $637,000
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| Maturity: | April 22, 2024
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| Coupon: | 12.65% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon threshold 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 Jan. 17, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any monthly call determination date
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| Initial levels: | 30,185.82 for Dow, 1,735.753 for Russell, 3,677.95 for S&P
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| Coupon thresholds: | 21,130.074 for Dow, 1,215.027 for Russell, 2,574.565 for S&P, 70% of initial levels
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| Downside thresholds: | 21,130.074 for Dow, 1,215.027 for Russell, 2,574.565 for S&P, 70% of initial levels
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| Pricing date: | Oct. 17, 2022
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| Settlement date: | Oct. 20, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774HVN5
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