New York, Oct. 6 – Morgan Stanley Finance LLC priced $3 million of contingent income autocallable securities due April 8, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The securities will be called automatically at par if the index closes at or above its initial level on any monthly call determination date starting April 6, 2023.
At maturity, the payout will be par unless the index finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the 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 index: | S&P 500 index
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Amount: | $3 million
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Maturity: | April 8, 2024
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Coupon: | 8.5%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date; coupon payment events will automatically include any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the index
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Call: | Automatically at par if the index closes at or above its initial level on any monthly call determination date starting April 6, 2023
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Initial level: | 3,678.43
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Downside threshold: | 2,207.058, 60% of initial level
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Coupon barrier: | 2,574.901, 70% of initial level
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Pricing date: | Oct. 3
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Settlement date: | Oct. 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61774HNY0
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