Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $600,000 26% contingent income autocallables on stocks
Chicago, Aug. 16 – Morgan Stanley Finance LLC priced $600,000 of contingent income autocallable securities due July 18, 2024 linked to the worst performing of the common stocks of Amazon.com, Inc., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 26%, paid quarterly, if each underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Jan. 20, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the worst performing stock closes below its 70% 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: | Amazon.com, Inc., Target Corp. and Walmart Inc.
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| Amount: | $600,000
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| Maturity: | July 18, 2024
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| Coupon: | 26% annual rate, paid quarterly, if each underlying stock closes at or above its 70% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes 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 starting Jan. 20, 2023 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial levels: | $110.63 for Amazon, $146.29 for Target, $127.82 for Walmart
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| Downside thresholds: | $77.441 for Amazon, $102.403 for Target, $89.474 for Walmart, 70% of initial levels
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| Pricing date: | July 18, 2022
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| Settlement date: | July 21, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774DE29
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