E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 1/30/2023 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $1.16 million phoenix autocallable securities linked to Roku

By William Gullotti

Buffalo, N.Y., Jan. 30 – Morgan Stanley Finance LLC priced $1.16 million of phoenix autocallable securities due Feb. 13, 2024 linked to the stock performance of Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 41.5% per year, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.

The securities will be called automatically at par plus the coupon if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date.

At maturity, the payout will be par plus the final coupon unless the stock finishes below its 65% downside threshold level, in which case investors will be fully exposed to the decline of the stock.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Phoenix autocallable securities
Underlying stock:Roku, Inc.
Amount:$1,159,000
Maturity:Feb. 13, 2024
Coupon:41.5% per year, paid quarterly if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date; coupon payment events will automatically include any previously unpaid coupons
Price:Par
Payout at maturity:Par plus final coupon unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
Call:Automatically at par plus the coupon if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly review date
Initial level:$52.15
Downside threshold:$33.898, 65% of initial level
Strike date:Jan. 25
Pricing date:Jan. 26
Settlement date:Jan. 30
Agent:Morgan Stanley & Co. LLC
Distributor:J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:1%
Cusip:61774TUW0

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.