Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $950,000 14.1% contingent income autocallables on AMD
Chicago, Sept. 27 – Morgan Stanley Finance LLC priced $950,000 of contingent income autocallable securities due Sept. 26, 2024 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.1%, paid monthly, if the underlying stock closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Dec. 28, 2022 at par if the price of the underlying stock is greater than or equal to 85% of its initial price on any monthly call determination date.
At maturity the payout will be par unless the stock closes below its 55% 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.
| 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 stock: | Advanced Micro Devices, Inc.
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| Amount: | $950,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 14.1% annual rate, paid monthly, if the 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 stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting Dec. 28, 2022 at par if the price of the underlying stock is greater than or equal to 85% of its initial price on any monthly call determination date
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| Initial level: | $69.50
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| Coupon barrier: | $45.175, 65% of initial level
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| Downside threshold: | $38.225, 55% of initial level
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| Call threshold: | $59.075, 85% of initial level
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| Pricing date: | Sept. 22, 2022
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| Settlement date: | Sept. 27, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61774HEV6
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